By Steve Goldstein
U.K.-listed miners slipped on Monday, after China, the world’s largest commodities import, took steps to crack down on commodity speculation.
Fresnillo /zigman2/quotes/201300065/delayed UK:FRES +0.23% and Antofagasta /zigman2/quotes/200173667/delayed UK:ANTO -1.88% were the worst-performing FTSE 100 members, and other major miners including BHP Group /zigman2/quotes/203323256/delayed UK:BHP +0.43% and Anglo American /zigman2/quotes/201381512/delayed UK:AAL +0.14% 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 /zigman2/quotes/210598409/delayed UK:UKX +1.12% edged up 0.2% in midday trade, in what has been a quiet session with Germany and other European countries celebrating Whit Monday.
Cineworld /zigman2/quotes/206525056/delayed UK:CINE +4.22% 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.