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Mining stocks drag down FTSE 100 | |
(about 5 hours later) | |
(Close): London's FTSE 100 dipped in afternoon trading, with mining stocks dragging the index down. | |
At the close, the FTSE 100 was down 58.3 points or 0.95% at 6,104.19. | |
The downturn reversed an earlier rise in the wake of the Bank of England's inflation report and decision to leave interest rates unchanged. | |
Anglo American led the losers' list, down 6.85%, while Antofagasta and Glencore fell by 4.6% and 4.2% respectively. | |
But the pound made modest gains, up 0.06% against the dollar at $1.4456 and up 0.41% against the euro at €1.2697. | |
The world's biggest caterer, Compass Group, was the best riser, up 1.6%. | |
Investors continue to digest its results, which were released on Wednesday and were better than expected. | Investors continue to digest its results, which were released on Wednesday and were better than expected. |
Sainsbury's was another big loser, falling almost 4%, with Centrica and Admiral down 3.7% and 2.8% respectively. All three went "ex-dividend" on Thursday. | |
Shares in companies that have just paid out their half-yearly dividend to shareholders tend to fall immediately, because new buyers will not receive that payment. | |