Morning Markets: Miners weigh on early FTSE

Struggling mining and resources stocks followed the lead of US counterparts overnight and dragged th...

Struggling mining and resources stocks followed the lead of US counterparts overnight and dragged the FTSE100 lower in early trading this morning, currently 1.64% behind to 4095. Xstrata leads the losses for the sector so far, diving 49 points, or 7.78%, to 580.50 - while Anglo-Australian giant BHP Billiton has fallen 47 points, or 4.43%, 1,013. Oil stocks are also among the major decliners as prices slide below $44 a barrel. However, there is one bright spot for the miners, with former BHP merger target Rio Tinto up 1.75%. In financials, Royal Bank of Scotland Group is once again at ...