Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

China woes hit commodity prices

Monday, August 10, 2015 - 01:11

Falling commodity prices pulled Britain's FTSE down 0.6 percent, as China's economy slows. Hayley Platt reports.

▲ Hide Transcript

View Transcript

The FTSE fell further on Monday, pulled down by weaker mining stocks. Britain's top share index slipped 0.6 percent - still up on the start of the year but 6 percent below its record high in April. Miners account for around a tenth of the UK's blue-chip stocks in terms of market capitalisation. And on Monday they dominated the list of worst performers. Anglo American were down 2.6 percent. BHP Billiton - 2.4 percent. It came on the heels of data from China pointing to weaker overall trade. Vicky Pryce of CEBR. SOUNDBITE: Vicky Pryce, Chief Economic Advisor, CEBR, saying (English): "During the period of growth in China they were asking for quite a lot of commodities which were crucial for them in terms of growth and in a way it kept oil prices and other prices high. The slowdown we're seeing right now of course has the opposite impact." London copper also took a bashing - trading at a six-year low. Crude oil futures also fell, touching fresh multi-month lows. And although China's economy is still set to grow, it won't be anywhere near as fast as it has been.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

China woes hit commodity prices

Monday, August 10, 2015 - 01:11