Miners' gravity pulls down FTSE 100

Monday, 14 September 2009 09:06

The FTSE 100 started the week falling back under 5,000 as miners proved a strong tether on optimism.

At 8:41 BST, the index was down 0.57 per cent - losing 28.71 points - to 4,982.76.

Eurasian led the fall - down 3.56 per cent - followed by platinum producer Johnson Matthey down 3.52 per cent.

Vedanta slid 2.74 per cent.

Smith & Nephew was down 2.78 per cent and Burberry Group dropped 2.19 per cent.

Gains were thin on the ground - with insurer Admiral leading the way up 0.80 per cent.

Cadbury gained 0.71 per cent, Cobham rose 0.67 per cent and both Imperial Tobacco and GlaxoSmithKline were up 0.51 per cent.

Overnight in Asia, the Nikkei was down 2.32 per cent and the Hang Seng lost 1.13 per cent.

On the currency markets, sterling was down 0.50 per cent against dollar and down 0.52 per cent against the euro.

This makes £1 worth $1.6574 and ?1.1380.

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