London’s FTSE 100 extended its losing streak to four sessions on Thursday, falling 60.48 points, or 0.6%, to 10,772.67, as heavy losses across the mining sector outweighed encouraging UK economic data.
Away from the FTSE 100, the FTSE 250 edged 0.1% higher to 24,837.71, helped by an 11% surge in Savills following strong first-half results. Rank Group gained 6% after reporting higher underlying earnings and increasing its dividend.
Housebuilders also advanced as bond yields eased, with Barratt Redrow up 2.4% and Persimmon gaining 2.2%.
The UK economy expanded 0.4% in the second quarter, matching expectations after 0.6% growth in the previous three months. June GDP rose 0.3% month-on-month, beating forecasts for no growth.
Antofagasta tumbled 6.8% after cutting its 2026 copper production guidance following severe weather disruption at its Los Pelambres operation in Chile. The miner now expects annual production of 625,000-655,000 tonnes, down from its previous 650,000-700,000-tonne range.
Other miners were also under pressure, with Rio Tinto down 4.8% and Fresnillo falling 4.7%, although both traded ex-dividend. A weaker gold price added pressure, with the precious metal slipping to around $4,370 an ounce.
Energy majors also weighed on the index. BP fell 1.6% and Shell lost 1.0%, with both trading ex-dividend as Brent crude eased below $88 a barrel.
The sell-off came despite better-than-expected UK economic figures. GDP grew 0.4% during the second quarter, ahead of the Bank of England’s 0.3% forecast, while June delivered a surprise 0.3% monthly expansion.
Deutsche Bank described the first half of 2026 as particularly strong, with annualised growth running at around 2% and the UK potentially leading the G7 growth table.
Attention now turns to Friday’s eurozone GDP, US retail sales and consumer sentiment data, alongside half-year results from Aviva.
