Anglo American PLCFalling copper prices and a 3.70% drop in the STOXX Europe 600 resources index dragged Anglo American down 4.9%.
The European Central Bank decided to raise its key policy rate by 25 basis points to 2.50% and projected inflation of 3.0% for 2026. At a press conference after the governing council meeting, President Lagarde said risks to the inflation outlook are tilted to the upside, and markets raised their bets on the total rate increase by the April 2027 council meeting from about 51 basis points before the announcement to 60 basis points. In response, the STOXX Europe 600 index hit its lowest level in about two months, while the German 10-year bond yield rose to its highest since 2011 and the French 30-year yield to its highest since 2003. Intensifying attacks on ships in the Middle East pushed North Sea Brent crude futures to 105 dollars a barrel, and with copper prices falling, the STOXX Europe 600 resources index dropped 3.70%, with Antofagasta down 5.7%, Aurubis down 5.3% and Anglo American down 4.9%. In London, the FTSE 100 fell for a fifth straight session, with HSBC down 1.3% after announcing its chief financial officer will step down in 2027, and Associated British Foods down 7.9%.
Anglo American PLCFalling copper prices and a 3.70% drop in the STOXX Europe 600 resources index dragged Anglo American down 4.9%.
Antofagasta PLCCopper prices fell, pushing the resources index down 3.70% and Antofagasta down 5.7%.
HSBC Holdings PLCHSBC fell 1.3% after announcing its chief financial officer will step down in 2027.
Associated British Foods PLCAssociated British Foods fell 7.9% in London, but the article gives no stated cause for the move.