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FTSE 100 lower as mining shares slide | FTSE 100 lower as mining shares slide |
(about 3 hours later) | |
(Noon): Mining shares dragged London's leading index lower after Antofagasta predicted lower copper output next year. | |
Shares in the Chilean mining company sank 6.5% on the news, making it the biggest faller in the FTSE 100. Elsewhere in the mining sector, Anglo American was down 2.7%. | |
By midday, the benchmark index was down 64.62 points, or 0.9%, at 6,953.02. | |
Lloyds shares recovered from early losses following its latest results. | |
The bank reported a fall in third-quarter profits and said it had set aside a further £1bn to cover PPI mis-selling claims. Its shares fell 3% in early trade, but then recovered to stand 0.3% higher at 55.51p. | |
Shares in airlines and supermarkets were having a good day, British Airways owner IAG rose 1.4% and Easyjet gained 0.9%, while among the supermarkets both Sainsbury's and Tesco were up by more than 1%. | |
On the currency markets, the pound rose 0.2% against the dollar to $1.2207 but fell 0.1% against the euro to €1.1183. |