FTSE 100 down with miners digging down

Monday 13th July 2009

The FTSE 100 saw falls in early trading today, following drops in Asia and losses for miners.

The FTSE 100 was down 0.16 per cent, at 08:74 BST, to stand at 4,120.38 – after an initial drop took the index below 4,100.

Strongest gains went Friends Provident – up 5.10 per cent to 63.48p – after Clive Cowdery's Resolution saw a takeover bid rejected.

Resolution is now believed to be considering its next step.

Invensys was up 1.28 per cent, BAE Systems gained 1.16 per cent and BT Group rose 1.15 per cent.

Miners proved to be the steady anchor on traders today – holding back any gains.

Xstrata was down 4.41 per cent, Rio Tinto dropped 2.29 per cent and Fresnillo slipped 2.18 per cent.

Lloyds Banking fell 3.05 per cent as reports over the weekend stated the group was set to announce further losses for the first half of 2009.

Associated British Foods fell 2.33 per cent.

In Tokyo, the Nikkei 225 saw a drop of 2.55 per cent – as the prime minister of Japan is set to announce a general election for the end of August.
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