U.K. stocks inched lower Monday, with the market’s benchmark easing back from last week’s performance that marked its best in nearly four years.
The FTSE 100 UKX, -0.45% fell 0.4% to 6,389.57, with only the energy and metals sectors posting minor gains. A loss Monday would be the benchmark’s first after rising for eight consecutive sessions. That run that allowed the FTSE 100 last week to notch its best week since December 2011, led by commodity shares.
Glencore PLC GLEN, -1.63% GLCNF, +8.20% 0805, +7.44% shares on Monday rose 1.3% after the commodities producer said it is considering selling two of its copper mines, a move coming as the company tries to firm its balance sheet and restore investor confidence.
Most other mining shares edged up, with Randgold Resources Ltd. RRS, +1.33% GOLD, +3.52% gaining 0.8% and BHP Billiton PLC BLT, +0.13% BHP, +1.18% BHP, -0.94% up 0.2%. But Anglo American PLC AAL, -0.81% was off 0.1%.
Meanwhile, SABMiller PLC shares SAB, +0.75% SBMRY, +1.45% fell 0.3%. Anheuser-Busch InBev ABI, -0.27% BUD, +1.08% may raise its takeover offer for SAB ahead of a Wednesday deadline set by U.K. regulators, Reuters reported Sunday, citing an unnamed source.
Source: MarketWatch
