London’s FTSE 100 flat as losses in miners overshadow Shell cheer

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(For a Businesshala Live blog on the US, UK and European stock markets, click/ or type live/ in a news window)

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*FTSE 100 and FTSE 250 flat

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Nov 15 (Businesshala) – The UK’s FTSE 100 was flat on Monday, as plans to ditch its dual share structure in oil major Royal Dutch Shell were offset by miners affected by global moves to reduce coal use and There was a big fall in China’s steel. Production.

The blue-chip FTSE 100 was unchanged at 0817 GMT, with miners Anglo American, Glencore and BHP Group down between 0.7% and 1.2% as key drivers for the first time since UN climate talks ended with a deal on Saturday. was targeted at fossil fuels. of global warming.

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The data also showed that crude steel production in China, the world’s top producer of the metal, fell for the fifth straight month in October amid a decline.

On the bright side, Shell rose 1.8% after the energy giant said it would do away with its dual-share system in favor of a single class of shares to boost shareholder payouts and simplify its structure.

Telecom tycoon Patrick Drahi is looking to increase his stake in the British company after BT Group gained 1.8% after Businesshala, citing sources, said its fiber-optic rollout would boost value.

Cineworld jumped 5.6% after reporting an improvement in October box office revenue as COVID-19 restrictions eased. (Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Rashmi Aich)

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