UK equities dipped this morning after closing at a 14-year high yesterday, with falls in commodity markets hitting miners.
The FTSE 100 and FTSE All Share were both down 0.6% by mid-morning, with large mining firms in the red after the price of major metals such as copper dropped overnight.
Rio Tinto led the loser column, off 3.3%, while other mining firms also experienced sizeable drops. Anglo American, Fresnillo and Antofagasta were down 2.7%, 2.3% and 2% respectively.
The falls in the resources sector pulled the market back from yesterday's multi-year peak, which saw the FTSE 100 close at 6,865.86 - the highest point since the close at 6,930 seen at the peak of the dotcom boom in December 1999.
Overnight markets also retreated, with Chinese markets falling for a second consecutive day. The Shanghai Shenzhen CSI 300 index was down 2.6% while the Hong Kong Hang Seng index fell 0.32% overnight. However, Japan bounced back after falls the previous session, with the Nikkei closing up 1.4%.
