Business

FTSE 100 pulled lower by mining firms

  • 27 October 2015
  • From the section Business
Market trader (file picture) Image copyright Getty Images

(Close): Mining shares fell, dragging the market lower, but Shire shares jumped after it reported encouraging results for a new treatment.

At the end of the day, the FTSE 100 was down 51.75 points at 6,365.27. Among the mining firms, Anglo American fell 5.7% and Antofagasta was down 4%.

Shire rose 6.9% after the drug firm reported positive results for its dry-eye disease drug Lifitegrast.

Shire is trying to get the drug approved by US regulators.

Shares in oil giant BP fell 1.1%, although its third-quarter results beat analysts' forecasts.

The company reported underlying profits of $1.8bn, down from $3bn a year earlier but well above predictions of $1.2bn.

In the FTSE 250, shares in TalkTalk rebounded 13.2% following after two days of heavy falls. The firm's share price has been hit since it emerged last week that it had been the victim of a cyber-attack.

Among small-cap firms, shares in Chemring plunged by more than a fifth after the defence contractor warned revenues from a contract in the Middle East could be delayed.

On the currency markets, the pound weakened slightly after figures showed the UK economy slowed slightly more than expected in the third quarter.

The economy grew by 0.5% in the July-to-September period, down from 0.7% in the previous quarter and below forecasts of 0.6%.

Sterling was down 0.26% against the dollar at $1.5310 and dropped 0.16% against the euro to €1.3868.