Markets: miners drag the FTSE 100 lower
The FTSE 100 slid further yesterday as mining stocks dragged the market down. The index closed 1.4% lower at 6,135.
- FTSE 100 down 1.4% to 6,135
- Gold up 0.32% to 1,074.96/oz
- £/$ - 1.5008
FTSE 100
Anglo American slumped 12.3% after suspending its dividend for two years. Rio Tinto lost 8.4%, Glencore slid 6.5% and BHP Billiton was 5.5% lower.
In Europe, the Paris CAC 40 fell 1.6% to 4,681, and the German Xetra Dax lost 2% to 10,673.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In the US, the Dow Jones Industrial Average fell 0.9% to 17,568, the S&P 500 lost 0.7% to 2,063, and the Nasdaq Composite was 0.1% lower at 5,098.
Overnight in Japan, the Nikkei 225 a fell1% to 19,301, and the broader Topix index lost 0.8% to 1,555. And in China, the CSI 300 rose 0.4% to 3,635, and the Shanghai Composite was 0.1% higher at 3,472.
Brent spot was trading at $40.73 early today, and in New York, crude oil was at $38.12. Spot gold was trading at $1,077 an ounce, silver was at $14.20 and platinum was at $850.
In the forex markets this morning, sterling was trading against the US dollar at 1.5037 and against the euro at 1.3779. The dollar was trading at 0.9163 against the euro and 122.80 against the Japanese yen.
And today, the government has announced the winners of two rail franchises. From 2016 to 2025, Northern Rail will be run by Arriva, owned by Germany's Deutsche Bahn, which will receive £1.79bn in public subsidy. And the Transpennine route will remain in the hands of Firstgroup, which will pay £303m in premiums, until 2023.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
House prices rising fastest in areas with highest crime rates – where does your area rank?
Property prices are higher in safer areas but growing more slowly than in places benefiting from gentrification and buy-to-lets
-
State pension age review launched – could it rise faster in future?
The government has announced a review of the state pension age, after it warned of a “retirement crisis” and revived the Pensions Commission to boost pension savings