LONDON: U.K. stocks dipped lower Wednesday, with Antofagasta PLC and other miners among the biggest decliners, while apparel retailer Next PLC popped higher after its financial update.
The FTSE 100 UKX, -0.10% lost grip of modest gains and fell 0.2% to 7,018.11. The benchmark on Tuesday fell 1%, in part as investors began turning their attention to the U.S. Federal Reserve’s policy announcement, due later Wednesday.
Antofagasta ANTO, -3.37% was at the bottom of the blue-chip index, down 2.4% after the copper producer cut is full-year copper output guidance, with protests at its Los Pelambres mine in Chile and heavy rainfall at three other mines hurting production during the first quarter.
Meanwhile, shares of mining industry heavyweights BHP Billiton PLC BLT, -2.39% BHP, +1.44% and Rio Tinto PLC RIO, -1.68% RIO, +0.11% fell 2% each after an official at China’s central bank said it’s not planning on launching a quantitative-easing program, according to a Reuters report. China, a major buyer of metals and other commodities, has been facing an economic slowdown.
At the top of the FTSE 100 sat fashion retailer Next NXT, +2.86% Its shares rose 2.9% after Next said warmer weather had helped push up full-price sales by 3.2%, higher growth than had been expected.
