Glencore weighs on FTSE as commodity giant's shares drop 8%

Mining sector suffers further falls

Glencore has fallen over 8% on poor H1 earnings, dragging down other miners and the FTSE 100 index as a whole.

The miner and commodities trader reported a 29% fall in first-half earnings this morning, as a result of falling metal and oil prices over the past six months. Following the news, shares in the group fell 8% in early morning trading, dropping to 162p by 11am.  Other mining groups in UK's bluechip index are also suffering this morning, with Anglo American down 3.3% at 718p and BHP Billiton trading at £10.89, 2.1% lower on the day. Mining giant Rio Tinto is also trading 2.1% lower. The wider FTSE 100 index is trading nearly 1% lower at 6,464, as the mining sector weighs on the index ...