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U.K.-listed miners slipped on Monday, after China, the world’s largest commodities import, took steps to crack down on commodity speculation.
Fresnillo
FRES,
and Antofagasta
ANTO,
were the worst-performing FTSE 100 members, and other major miners including BHP Group
BHP,
and Anglo American
AAL,
declined as China’s National Development and Reform Commission said it would “severely punish” commodity monopolies, as it blamed rising prices on “excessive speculation.”
A range of commodity prices has surged as the global economy emerges from COVID-19 lockdowns.
The broader FTSE 100
UKX,
edged up 0.2% in midday trade, in what has been a quiet session with Germany and other European countries celebrating Whit Monday.
Cineworld
CINE,
shares rose 3%, as the cinema operator reported a strong opening weekend in the U.K., helped by “Peter Rabbit 2: The Runaway.” In the U.S., over 97% of cinemas have resumed operations, and Poland and Israel will be opening at the end of the coming week.
Read: Peter Rabbit helps Regal Cinema-owner Cineworld report strong reopening weekend
