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FTSE 100 hit by fall in mining giant Glencore | |
(about 4 hours later) | |
(Noon): UK shares fell, with mining giant Glencore the biggest faller after it was hit by a drop in coal prices. | |
Shares in Glencore were down 4.7%, and approaching midday the FTSE 100 was down 8.31 points at 6,076.28. | |
Shares in supermarkets also weighed on the market, with Morrisons, Sainsbury's and Tesco all down by more than 2%. | |
Credit checking agency Experian was one of the biggest risers, climbing 1% after HSBC raised its rating on the stock to "buy". | |
B&Q and Screwfix owner Kingfisher dropped 2.7% after the firm's latest half-year results. It reported a slight dip in half-year profits, and also announced it was considering a big expansion of its Screwfix chain, with potential for another 200 stores. | |
However, its shares were hit by a weak performance from its French business - where it runs the Castorama and Brico Depot chains - where profits fell 16.4%, or by 5.7% when currency moves were stripped out. | |
After rising more than 3% in early trade, shares in online grocer Ocado went into reverse to stand down 0.3% after its latest sales figures. | |
The firm reported gross retail sales of £252m in the 12 weeks to 9 August, up 15.3% from a year earlier. | The firm reported gross retail sales of £252m in the 12 weeks to 9 August, up 15.3% from a year earlier. |
Overall, investors are expected to remain cautious ahead of the US interest rate decision later this week. | |
On Thursday, the Federal Reserve will decide on whether to raise US rates for the first time in nine years. | |
On the currency markets, the pound was flat against the dollar at $1.5429 but rose 0.16% against the euro to €1.3652. |