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FTSE 100 closes lower as mining firms lose ground | |
(about 3 hours later) | |
(Close): Mining shares weighed on the UK market after metal prices fell, while Morrisons dropped on reports it is in talks to sell its convenience stores. | |
The FTSE 100 index closed down 0.44 points at 6,550.30. | |
Falls in the prices of metals hit mining shares, with Glencore closing down 1.65% and BHP Billiton down 1.43%. | |
Supermarket group Morrisons fell 1.18% after reports that it may sell its 160 M-Local convenience stores. | |
The Reuters news agency reported that Morrisons was in talks to sell the chain to investment firm Greybull Capital. | The Reuters news agency reported that Morrisons was in talks to sell the chain to investment firm Greybull Capital. |
Plumbing supplies firm Wolseley was the biggest riser in the FTSE 100, climbing 2.21% after Citi upgraded its rating on the stock to "buy" from "neutral". | |
Shares in Bovis Homes closed down 3.16% despite the company reporting a rise in half-year profits and saying its house sales hit a record high in the period. | |
On the currency markets, the pound fell 0.3% against the dollar to $1.5595 and also fell 0.04% against the euro to €1.4079. |