FTSE falls on interest rate jitters

BHP Billiton dropped 4.48% to 992.50p, while Antofagasta fell 4.39% to 1,959p. Fund managers were also playing havoc as Amvescap dropped 5.90% to 486.50p and Schroders fell 4.31% to 1,000p in sympathy with the global stock market downturn. On the plus side, BAA advanced 2.16% to 948p after it agreed late last night to recommend a takeover offer of 950p a share, or £10.3bn in total, from a consortium led by Spain's Ferrovial. In the US, the Dow Jones Industrial Average has lost 35.62 points, or 0.3%, to 11,013.10 points on concern the Federal Reserve will keep raising interest rates to...