Miners drag London stocks lower at the open

Miners drag London stocks lower at the open

UK stock index fell on Tuesday, under pressure from mining companies as investors eagerly await key economic data and an interest rate decision from the Bank of England later in the week.

The FTSE 100 heavy commodities were down 0.1% at 07:12 GMT, while the FTSE 250 medium was down 0.2%.

Crude oil and metals prices fell on Tuesday after interest rate cuts in China failed to quell investor concerns about the economic growth of its largest consumer, putting pressure on energy and mining stocks.

Currys gained 2.5% after UK sportswear and fashion retailer Frasers acquired 8.9% in the electronics store. Shares of Fraser rose 1.5% after updating its share buyback program.

Viewers jumped 33.7% after Canadian car dealership network Alpha Auto Group prepares to buy its British counterpart for £465.4 million (about $595 million) in cash.

Investors will want to keep an eye on domestic inflation data due on Wednesday to assess the state of the economy ahead of Thursday’s BoE policy decision, with traders anticipating another 25 basis point increase.

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