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NEWS - ECONOMICS / MARKETS

Morning Markets: FTSE down as miners fall back

04 Feb 2010 | 10:01
John Bakie

Categories: Economics / Markets

Topics: Ftse | Nikkei | Dow jones

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Shares fell in London this morning with miners losing ground after high metal prices increased their value earlier this week.

The FTSE100 fell 33.26 points (0.63%) to 5,219.89, with mining companies and financial shares among the biggest losers.

Eurasian Natural Resources, Antofagasta and Xstrata all lost ground after making impressive gains earlier this week on the back of high metal prices. Eurasian fell 4.35%, Antofagasta dipped 4.16% and Xstrata shares lost 3.14%.

Man Group shares dropped 3.46% to 228.9p, while Lloyds Banking Group lost 3.09% after rising yesterday on the back of Merrill Lynch's upbeat forecast for the UK banking sector.

Vodafone was the biggest gainer, up 4.76% to 140.9p after reporting a 10% rise in year-on-year revenues.

Wall Street markets closed slightly down after mixed corporate results. The Dow Jones fell 0.26% to 10,270.55.

Walt Disney shares climbed 2.57% to $30.75, while McDonalds added 1.84% to $65.21.

Pfizer was the biggest loser after revealing a disappointing set of results. Its shares fell 3.22% to $18.62.

In Tokyo, the Nikkei 225 fell 48.35 points (0.46%) to 10,355.98. Despite bumper results for many firms, problems with Toyota's Prius cars continued to dominate trading.

 

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Categories: Economics / Markets

Topics: Ftse | Nikkei | Dow jones

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