FX.co ★ FTSE 100 Falls for 4th Session

The FTSE 100 experienced a 0.8% decline on Tuesday, marking its fourth consecutive day of losses and its most prolonged losing streak since August. This downturn moves the index further away from its recent record highs. Precious metals miners, such as Fresnillo and Endeavour, saw decreases of 5% and 3%, respectively. Diversified mining companies, including Anglo American, Antofagasta, and Rio Tinto, fell between 2% and 3%. Banks also contributed to the declines, with Barclays dropping 2.5%, while Standard Chartered, HSBC, Lloyds, and NatWest each saw reductions of about 2%. Despite this, the FTSE 100 is performing better than the Euro Stoxx 50, which decreased by 1.5%. This relative strength is attributed to the FTSE’s substantial allocation in defensive stocks. Among the select few gainers were AstraZeneca, the largest component of the index, and tobacco stocks, which received a boost after a favorable earnings report from Imperial Brands positively impacted its peer, BAT. ICG surged over 9% following its earnings beat and the announcement that Amundi intends to acquire a stake in the company.