Publish date:

Global Financial News: U.K. Stocks Hit by Falling Commodity Prices

European stocks fell sharply in early-Monday trading as the U.S. dollar stumbled to a four-month low following President Donald Trump's failure to push through health-care reform legislation last week.

Financial news from around the world:

1. European stocks fell sharply in early Monday trading. Britain's FTSE 100 was the most vulnerable as the session kicked into gear, with the benchmark falling 66 points, or 0.90%, to 7,272.6 points.

2. The U.S. dollar stumbled to a four-month low following President Donald Trump's failure to push through health-care reform legislation last week.

TST Recommends

3. U.K. stocks were hit not only by falling commodity prices, with China steel and iron ore futures falling to a six-week low in overnight Asia trade, but also by a rising pound, which gained 0.7% against a weaker dollar to trade at 1.2597.

4. Oil prices were also active overnight, with benchmark WTI futures for May delivery falling nearly 1%, to $47.49, per barrel from Friday's closing price while Brent contracts for the same month were marked 0.8% lower at $50.80 each.