Miners pull FTSE 100 down 1.68%

Miners start digging a hole in the FTSE 100

FTSE 100 falls back down with heavy miners and RBS

The FTSE 100 suffered a degree of profit taking today, pushing the index down from the highs seen last week as miners weighed heavy.
Miners' gravity pulls down FTSE 100

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

The FTSE 100 fell to its lowest point since mid September today as the miners pulled down hard on the index.

The index followed falls in New York and Europe as recent optimism seems to have run short - after the last quarter saw record gains.

At close the FTSE 100 was down 1.68 per cent to 5,047.81 - a fall of 86.09 points.

At 11:41 EDT (16:41 BST) the Dow was down 1.49 per cent to 9,567.70, while the S&P 500 was down 1.83 per cent.

In Frankfurt the Dax was down 1.92 per cent and the Cac40 in Paris lost 1.87 per cent today.

Miners were a heavy drain on the index.

Lonmin lost 8.12 per cent, Eurasian fell 5.02 per cent, Anglo American dropped 5.37 per cent and Xstrata lost 5.47 per cent.

Commercial property specialist Segro was down 5.50 per cent after a Goldman Sachs downgrade.

However, Vedanta was up 2.52 per cent breaking with its sector-mates with upgrades from both Morgan Stanley and Deutsche Bank.

Home Retail rose 2.91 per cent on a Cazenove upgrade.

Wolseley gained 1.46 per cent, Aviva rose 1.09 per cent and Friends Provident climbed 1.08 per cent.

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