FTSE 100 down on commodities

Tuesday, 10 November 2009 12:00

A slump in commodities weighed the FTSE 100 down, taking the index 0.09 per cent lower to end at 5,230.55.

Mining stocks were affected by a fall in metals prices, taking Randgold Resources down by 4.23 per cent, while Fresnillo fell by 3.71 per cent and Kazakhmys was trading 2.64 per cent lower.

But it was Barclays that led the retreat, falling 4.97 per cent after revealing third quarter profit was down a fifth from last year.

The results were in contrast to HSBC's upbeat interim statement, and the bank's stock surged 4.03 per cent over the session.

Following HSBC, Shell was trading 2.34 per cent higher, while Imperial Tobacco named Alison Cooper its new chief executive and saw shares rise by 2.30 per cent over the day.

Over on Wall Street, the Dow Jones edged up 0.1 per cent on a prediction from Moody's that American International Group (AIG) will soon be in a position to pay off its debt to the US government.

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