FTSE hit by falling metal prices

Xstrata dropped 6.25% to 1,815p as metal prices lost further ground. Kazakhmys fell 4.82% to 1,006p and Antofagasta declined 5.43% to 1,846p. BP tumbled 3.37% to 603p, while Shell dropped 3.59% to 1,745p after crude prices fell sharply overnight and continued their descent today on reports of the death of Iraqi militant Abumusab al-Zarqawi. Cairn Energy also fell 5.73% to 1,925p. Meanwhile, Cable & Wireless was one of the few risers, gaining 0.47% to 106.50p, on news it is to cut 150 jobs at its Bulldog broadband unit as the firm decides to move its focus to wholesale rather than on...