Footsie begins week lower

The FTSE 100 was down at mid morning trade on Monday with a fall of 25 points to 5208 – its fourth decline in five days. Anglo American led the FTSE 100 decline with a fall of 3% to 1161p. The mining business is selling $1bn of five-year bonds convertible into its shares to reduce debts. EMI also fared poorly with a drop of 10p to 342p. The music business plans to float retail music chain HMV Media which it has a 42.7% holding in. Tech stocks fared reasonably well with Arm leading gains with a 7p rise to 276p and Logica fared well with a gain of 2p to 426p. In th...