Business

FTSE 100 lower as mining shares slide

Market trader (file picture) Image copyright Getty Images

(Close): Mining shares dragged London's leading index lower after Antofagasta predicted lower copper output next year.

Shares in the Chilean mining company sank 3.2% on the news, making it the second-biggest faller in the FTSE 100. Elsewhere in the mining sector, Anglo American was down 2%.

The benchmark index closed down 59.55 points, or 0.85%, at 6,958.09.

Lloyds shares recovered from early losses following its latest results.

The bank reported a fall in third-quarter profits and said it had set aside a further £1bn to cover PPI mis-selling claims. Its shares fell 3% in early trade, but then recovered to nearly 1% higher at 55.88p.

Shares in airlines and supermarkets were having a good day, British Airways owner IAG rose 5.2% and Easyjet gained 2%, while among the supermarkets both Sainsbury's and Tesco rose by more than 1%.

On the currency markets, the pound rose 0.36% against the dollar to $1.2233 and gained 0.16% against the euro to €1.1213.