FTSE slides as mining stocks weaken

The FTSE 100 opened lower this morning, down 0.31% to 5,529, as miners saw falls across the board.

The basic materials sector was the heaviest faller, down 1.23%, while technology was the strongest gainer, up 0.27%. At the stock level, oil exploration company Rockhopper jumped 5.68% this morning, while climate control specialist Colt Group, industrial group Victrex, and the Co-operative Bank were also climbers. Among the fallers were Cable & Wireless, down 3.01%, while miners took all remaining places among the bottom five stocks in the index. Kazakhmys fell 2.73%, Antofagasta was down 2.56%, Anglo American fell 2.33% and Xstrata 2.03%. The banking sector saw a further shakeup a...