Miners, energy firms drag FTSE 100 to two-month low; WH Smith climbs

UK’s resource-heavy FTSE 100 slid on Wednesday to a two-month low, weighed down by commodity stocks as investors were worried that economic recovery in top consumer China might be stalling, while retailer WH Smith (LON:SMWH) rose on a strong annual outlook.

The internationally-focused FTSE 100 dropped 0.7%, bogged down by losses in heavyweight industrial metals miners and energy firms after weak China economic data clouded the outlook for raw materials. [MET/L] [MKTS/GLOB]

China focused life-insurance firm Prudential Financial Inc (NYSE:PRU) also shed 1.3%.

Entain (LON:ENT) Plc shed 2.7% after the Ladbrokes-owner said it was likely to get slapped with a financial penalty as part of a probe by Britain’s tax authority.

The mid-cap FTSE 250 also shed 0.6%, nearly offsetting a 0.7% gain in WH Smith Plc after the retailer forecast higher full-year profit, betting on strong travel demand during the summer.

Also denting sentiment was a survey that showed sentiment among domestic businesses fell for the first time in three months in May as firms were less optimistic about the economy and their trading prospects.

Miners, energy firms drag FTSE 100 to two-month low; WH Smith climbs