Morning Markets: FTSE slips back below 5,000

The FTSE 100 has dropped back below the 5,000 mark as miners suffer from profit taking on fears the rally in metal prices may have gone too far.

The London blue-chip index was down 46.13 points (0.92%) to 4,965.34 points by 10:30am. Johnson Matthey has been the worst hit and is down 4.28% to £13.85, while Kazakhmys, Vedanta Resources and Eurasian Natural Resources are also all down by over 3%. Meanwhile, Home Retail Group is currently leading the upside this morning with a gain of 0.82% bringing its shares to 295p each. Shares in Cadbury are also strong as rumours of a higher takeover bid from US firm Kraft and interest from Hershey continue to support prices. The company's shares were up 0.52% to 779.50p. In the US on F...