FTSE dragged down by miners for third day

Wednesday, 09 December 2009 11:01

The FTSE 100 lost 24.31 points, or 0.5 per cent, to 5,198.82 in early trading today as raw materials companies led stocks lower as metal prices fell for a third day.

Kazakhmys, Kazakhstan's biggest copper producer, lost 1.6 per cent to 1,230p as the price of copper fell in London. Man Group also lost 2.1 per cent to 310.1p as he biggest publicly traded hedge-fund manager said the net asset value of its flagship Man AHL Diversified Futures fund fell 4.3 per cent over the last week.

Royal Bank of Scotland added 0.4 per cent to 30.58p, its first increase in four day while Lloyds, Britain's biggest mortgage lender, added 0.3 per cent to 53.95p.

Debenhams, the U.K.'s second-largest department-store chain, climbed 3.1 per cent to 82.5p. The department-store chain was raised to "buy" by Merrill Lynch Global Research, which said "management will drive up profitability through better buying, mix and cost control."

• Tags:
• news
,
• share prices