FTSE 100 Hits Five-Week Low as Mark Carney Warns Brexit Vote Would Risk ‘Technical Recession’

by Tara Cunningham & Peter Spence

Market Report: Miners suffer sharp sell-off on bearish UBS note

Commodity-related stocks came under renewed pressure after UBS cautioned that iron ore prices could trade lower in the second half of this year.

The latest mining sell-off occurred after a bearish note from UBS questioned whether or not we’d seen the 2016 peak for miners.

Although the bank’s China construction index, a function of land sales, housing starts, completions and starts in the world’s second largest economy, rose significantly in April, UBS analysts highlighted that developers in China still “sound sound cautious”.

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