Mining, energy stocks drag UK shares lower; Cineworld slides

  • Reuters
  • Stock Market News
Mining, energy stocks drag UK shares lower; Cineworld slides

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* FTSE 100 down 0.4%, FTSE 250 off 0.2%

March 25 (Reuters) - British shares fell on Thursday, dragged down by mining and energy stocks as rising coronavirus cases across Europe fuelled concerns about a recovery in demand, while Cineworld dropped after reporting an annual loss.

The blue-chip FTSE 100 index .FTSE fell 0.4%, with miners including Rio Tinto RIO.L , Anglo American (JO: AMSJ ) AAL.L and BHP BHPB.L being the biggest drags.

Oil producers BP BP.L and Royal Dutch Shell RDSa.L were also among the laggards. O/R

Bank of England Chief Economist Andy Haldane said he remained confident that Britain's economy was poised for a quick bounce-back as the country races ahead with its coronavirus vaccinations and restrictions are lifted. domestically focused mid-cap FTSE 250 index .FTMC fell 0.2%, weighed down by financials stocks.

Cineworld CINE.L fell 6.6%, after saying it plans to ask shareholders to approve a raise in its debt ceiling next month to allow it to borrow more money to shore up its shattered finances, following a $3 billion loss in 2020. firm Compass Group CPG.L rose 2%, after forecasting better margins in the second quarter than in the first, as it trimmed costs to cope with an expected hit to revenue from most schools and offices remaining shut.

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