UK stocks took a battering today

UK stocks sank 1.88%, led lower by miners and energy companies.

China woes and falling commodity prices dented confidence. Glencore led the fallers, crashing by more than 9% after reporting a sharp drop in profits for the first half of the year.

Here’s the FTSE 100 chart:

Investors became increasingly concerned about the effect of falling oil and commodity prices on stocks after the US revealed a larger than expected increase in oil inventories, suggesting an oversupply.

Anglo American fell as much as 4.27%.

Admiral was one of the best performers on the day, climbing beyond 3% on better-than-expected pre-tax profits.

NOW WATCH: This is how rapper 50 Cent made millions and then lost it

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In

clusterstock-us ftse uk