FTSE falls on miners' tumble

Lower metal prices caused Anglo American to fall 2.59% to 1,966p and Rio Tinto to lose 2.50% to 2,651p. Utilities also nursed losses as investors switched out of defensive stocks: Kelda fell 2.27% to 754.50p, United Utilities fell 2.60% to 656.50p and Severn Trent was down 2.03% to 1,063p. Likewise, HBOS fell 0.87% to 967p following news that Andy Hornby, the current chief operating officer, will become chief executive in July to replace the departing James Crosby. Fund manager Amvescap ended better up 3.14% to 468p, following a Deutsche Bank upgrade to ‘buy’ from ‘hold’. Victor...