It was the mining firms which dragged the FTSE 100 down today, but it was largely because DKW cut it...
It was the mining firms which dragged the FTSE 100 down today, but it was largely because DKW cut its confidence in the profit potential of the mining sector.
The FTSE 100 index closed down 11.8 points or 0.3% to 4252.1, led by Xstrata which fell 14.5p or 2.8% to 503p and BHP Billiton which also dropped 6.5p or 1.5% to 430p.
They were pursued by Anglo American - now the world's second-largest miner - which lost 10p or 0.8% to £11.77 and Rio Tinto which despite a good run recently also closed down 10p or 0.7% to £13.69.
At the other end of the scale, Dixons, the electrical group, is up 8.75p or 6.4% to 147.75p thanks to a 19% increase in sales and overseas expansion in the first few months of the fiscal year.
Woolworths Group - a high street store we don't often hear about on the LSE - closed up 5.5p or 14% to 43.5p as Q2 revenue is up thanks to new stock additions while Ryanair lost 7.5p or 1.6% to 455p after being downgraded by Merrill Lynch.
SSL International - the maker of Durex condoms - has also ended its takeover talks after failing to reach a deal. Its share price plummeted 31p or 9.1% to 311.5p.
In the US, the markets are also down as chip-makers such as Intel have revealed their sales are not as strong as first hoped.
The Nasdaq (tech stocks) Composite index is currently down 31.50 points or 1.7% to 1841.93 while the Standard & Poor's 500 index has so far lost 7.00 points or 0.7% to 1016.17 and the Dow Jones has fallen 48.50 points or 0.5% to 9458.70.
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