Mining shares lead FTSE falls as China growth slows, precious metals retreat
Published: 04:12 15 Jul 2026 EDT
Mining stocks fell on Wednesday after weaker-than-expected Chinese economic growth raised fresh concerns about demand from the world's biggest consumer of industrial metals.
China's economy grew 4.3% in the second quarter, down from 5.0% in the first three months of the year and marking its weakest pace of expansion in three years, prompting investors to sell mining shares.
Precious metals also gave back some of the previous day's gains as risk appetite improved and rate expectations eased following softer US inflation.
Precious metals producer Fresnillo PLC (LSE:FRES) led the declines, falling more than 3%, while gold miners Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) and Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) were also among the biggest fallers in the FTSE 350 resources sector.
Copper miner Antofagasta PLC (LSE:ANTO) lost more than 2%, while Anglo American PLC (LSE:AAL) and Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) also traded lower.
The weaker sentiment came despite relatively stable copper prices. Gold slipped 0.8% to US$4,021.44 an ounce, while silver fell 0.9% to US$58.13 an ounce.
Although copper prices were little changed, investors focused on the implications of slower Chinese growth for future demand. China accounts for more than half of global refined copper consumption and is a major buyer of iron ore and other industrial metals, making its economic performance a key driver of mining shares.
