Profits rise at BHP but not enough for FTSE

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Lower than anticipated income for mining giant BHP Billiton has forced the FTSE 100 down this morning, as there has been little to lift the mood.

The FTSE 100 index dropped 13.4 points or 0.3% to 4344.4 within the first hour of trading on Wednesday, and the FTSE All-Share index fell 0.3% to 2156.83, after BHP reported fiscall full-year net income of £3.38bn. This is actually around £1bn less than analysts had expected, so the response has been negative and shares are changing hands. BHP Billiton dropped 12p or 2.3% to 512p and its rival Rio Tinto lost 15p or 1.1% to £13.74 on a back position. There has been a little good news, however, as Financial Objects, a UK maker of banking software, jumped 2p or 4.8% to 43.5p as first-...

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