Business

FTSE 100 lower as miners slump

London stock brokers (file photo) Image copyright AFP

(Close): London's leading shares headed lower in Tuesday morning trading, with copper miner Antofagasta clearly the biggest loser.

At close, the benchmark FTSE 100 index was down 34.60 points or 0.56% to 6139.97.

Anglo American was the biggest faller, down at close by 11%, or 59.05p, at 487.45 pence.

Antofagasta fell 4.47% after posting a 58% drop in annual profit and cancelling its final dividend.

Other miners suffered too: BHP Billiton and Glencore declined by 6.54% and 4.77% respectively.

Royal Bank of Scotland was one of the biggest risers on the 100-share index, adding 1.47% after an upgrade from analysts at Goldman Sachs.

Supermarket chain Sainsbury's fared less well, shedding 1%, despite issuing a trading statement showing its first sales rise in two years.

On the currency markets, the pound was down 1.07% against the dollar at $1.4150 and 1.05% lower against the euro at €1.2749.

Traders said sterling had been dragged lower by an opinion poll in the Telegraph newspaper indicating a narrow majority for supporters of an exit from the EU ahead of the 23 June referendum.