Miners hold back FTSE 100 gains

London stock brokers (file photo) Image copyright AFP

(Close): The FTSE 100 was little changed at close, with shares in miners holding back the index.

London's main share index was just 0.47% higher at 6,728.99.

Insurance firm Admiral Group, was one of the top risers, gaining nearly 3%, after UBS upgraded its rating on the firm to "buy" from "neutral".

Mining firms were the biggest losers, led by Anglo American which fell 4.82% after it lowered its full year target for copper production.

Shares in BHP Billiton, which earlier announced a bigger-than-expected cut to fourth quarter production, also dropped, losing 2.33%.

Other miners, including Glencore, Fresnillo, Rio Tinto and Antofagasta all lost ground, dropping between 1.6% and 3%.

Other winners were St James's Place, Legal and General, Sage, and Standard Chartered.

On the currency markets, the pound was up 0.51% against the dollar at $1.31770.

Against the euro, it was up 0.60% at €1.19670.