FX.co ★ FTSE 100 Declines On US Recession Worries

On Monday, U.K. stocks experienced a significant decline due to unsettling data from the U.S. labor market, which reignited recession fears.

Despite a survey revealing that activity in the United Kingdom's private sector increased for the third month in a row in July, albeit at a moderate rate, investors largely dismissed these positive results.

The benchmark FTSE 100 index plunged by 178 points, or 2.2%, to 7,996, following a 1.3% drop on Friday.

Diverse sectors saw widespread selling. Notably, mining companies such as Anglo American, Antofagasta, and Glencore saw their shares fall between 2% and 4%.

Energy giant BP Plc declined by 3.3%, while Shell dipped by 4%, as crude oil prices hovered near eight-month lows despite escalating tensions in the Middle East.

Engineering company Senior faced a sharp decline of 5.5%, even after reporting a 10% increase in first-half profits.

Additionally, shipbroker Clarkson saw its shares drop by 8.5% after announcing lower sales and profits in the first half of the year.