Metal takes shine off FTSE

The Index failed to hold onto brief US-inspired gains as falling metal prices, Middle East concerns and a drop in gambling stocks took it back into negative territory. PartyGaming fell 5.50% to 103p as news emerged BETonSPORTS’ chief executive David Carruthers has been detained by the US federal authorities. Vedanta Resources declined 4.13% to 1,287p, Xstrata dropped 3.69% to 1,986p, Kazakhmys fell 2.94% to 1,156p and Antofagasta declined 3.28% to 405p after sellers clobbered metal prices. Utilities were in demand as investors moved into defensive stocks in light of the global equity s...