FTSE 100 Drops to Lowest Level in Three Months Amid Share Sell-Off

The FTSE 100 fell to its lowest level in nearly three months as the global share sell-off reached Europe.

The blue-chip index dropped 0.8%, while the mid-cap FTSE 250 decreased by 1%.

Precious metal miners led the declines, falling as much as 5.2%, with gold miners Fresnillo and Endeavour Mining each slipping over 3% as spot gold prices plummeted.

Investor sentiment globally was dampened after tech giants Alphabet and Tesla disappointed, resulting in significant losses on the Nasdaq and the S&P 500 on Wednesday.

In the UK, Centamin fell as much as 9.7% to the bottom of the FTSE 250 following the announcement of its interim results and an unchanged outlook for 2024.

Energy companies dropped 1.4%, and industrial miners declined up to 1.8% in line with falling oil and copper prices.

Rentokil shares declined 6.2% after the pest-control company released its interim half-yearly results.

The personal care, drug, and grocery sector was the only outlier, gaining up to 4.2%, as Unilever, the maker of Dove soap, climbed as much as 7.1% after exceeding profit estimates for the first half of the year.


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