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FTSE 100 lower despite strong gains for mining shares | |
(about 2 hours later) | |
(Noon): The UK's benchmark FTSE 100 index remained lower in midday Thursday trading, despite strong gains for key mining shares. | |
Anglo American and Fresnillo were 4% higher, Randgold Resources, Antofagasta and Glencore were all 2-3% higher. | |
Commodities were helped by US central bank meeting minutes that left the timing of the next interest rate move vague. | |
The FTSE 100 index was down 32.26 at 6,371.19 points. | |
Global markets overnight were lower, the Chinese authorities intervened again on the stock market to little effect. | Global markets overnight were lower, the Chinese authorities intervened again on the stock market to little effect. |
BAT shares were the biggest faller among the 100 top companies. They went ex-dividend and were 2.3% lower | |
Kaz Minerals bounced further, up by 10% after Wednesday's 6.50% rise. The company's chief executive said he was "very bullish" on the price of copper, which is currently at six-year lows. This week the central bank of Kazakhstan allowed its currency, the tenge, to devalue this week. | |
On the currency markets, the pound was down 0.3% against the dollar to $1.5632 and dropped 0.63% against the euro to €1.4012. | |