FTSE falls on copper and interest rates

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The FTSE 100 index is 38.7 points, or 0.7%, lower at 5,859.1 points this morning, led by concerns over global interest rates and a fall in copper prices.

Mining stocks have taken about 9 points off the FTSE, with BHP Billiton down 2.70% at 938p and Antofagasta 2.85% lower at 2,043p. Oil and gas stocks like BP are also under pressure, reacting to a 2% slide in US crude oil prices in the previous session. BP is down 1.10% at 630p. BT has fallen 1.08% to 229.25p after investment bank ABN AMRO cut its rating to "sell" from "hold". A Merrill Lynch downgrade has also sent property firm Liberty International 1.94% lower to 1,111p. Britain's largest-listed insurance broker and mid-cap Jardine Lloyd Thompson has fallen 10.67% to 397.50p a...

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