UK Oil, Mining Equities Find Relief But Still Down - Fox Business

LONDON -( Dow Jones )- U.K. oil, gas and mining equities recovered some of their earlier losses following better-than-expected U.S. payrolls data but were still in the red due to perceived risk that these stocks could be hit by any global economic downturn.

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Nonfarm payrolls rose by 117,000 last month as private-sector employers added 154,000 jobs, the U.S. Labor Department said Friday. This was better than the 75,000 jobs that had been anticipated, but the labor market in the world's largest economy remains weak--around 14 million are still looking for work. The U.K.'s FTSE 350 Basic Resources index, which tracks oil, gas and mining equities, fell as much as 5.2% from Thursday and was down only 3% after the payroll data, broadly in line with the 2.3% drop in the FTSE 100 index, which tracks the U.K.'s top 100 listed companies.

UK Oil, Mining Equities Find Relief But Still Down - Fox Business