Markets: miners drag FTSE 100 down further

published 9 March 2016

FTSE 100 down 0.9% to 6,125
Gold down 0.47% to $1,261.42/oz
£/$ 1.4215

FTSE 100

Miners were once again the main drivers of the market. Glencore led the index down with an 18.1% slide, while Anglo American shed 15.1%, Antofagasta lost 10.3% and Rio Tinto was 9.7% lower.

In Europe, the Paris CAC 40 fell 0.9% to 4,404, and the German Xetra Dax lost 0.9% to 9,692.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

In the US, the Dow Jones Industrial Average fell 0.6% to 16,964, the S&P 500 lost 1.1% to 1,979, and the Nasdaq Composite was 1.3% lower at 4,648.

Overnight in Japan, the Nikkei 225 fell 0.8% to 16,642, and the broader Topix index lost 1.1% to 1,332. And in China, the CSI 300 fell 1.2% to 3,071, and the Shanghai Composite was 1.3% higher at 2,995.

Brent spot was trading at $39.83 early today, and in New York, crude oil was at $36.63. Spot gold was trading at $1,257 an ounce, silver was at $15.32 and platinum was at $975.

In the forex markets this morning, sterling was trading against the US dollar at 1.4204 and against the euro at 1.2948. The dollar was trading at 0.9113 against the euro and 112.55 against the Japanese yen.

And in the UK, security contractor G4S reported a fall in profits for 2015. Pre-tax profits for the year fell by 39% to £78m, down from £128m the previous year. It said it is weighed down by "onerous legacy contracts", and could lose a further £57m if the government extends its contract to house asylum seekers.