Miners dig FTSE deeper

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The FTSE 100 Index fell 28.90 points, or 0.5%, to 5,652 points today, led by miners.

Miners gave up their earlier gains after a report by the International Copper Study Group showed world supply exceeded demand in the first quarter of the year. Anglo American dropped 2.01% to 2,095p, Rio Tinto fell 2.14% to 2,750p and Kazakhmys declined 1.44% to 1,093p. Gallaher fell back 1.39% to 816p after it said trading remains in line with expectations. The news led tobacco rival British American Tobacco down 1.91% to 1,332p. Other defensives also fell back, with United Utilities down 1.44% to 651.50p and Severn Trent down 0.93% to 1,172p. Smith & Nephew fell 1.51% to 408.25p...

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