FTSE movers: Miners head lower

20th Jan 2010 17:27

It is unusual for one sector to make up all of the top ten fallers in the FTSE 100 but this has happened to day as mining companies are hit by concerns about the Chinese government's attempt to cool down its economy. The worry is that this will lead to lower demand for metals. Eurasian Natural Resources, Xstrata, Lonmin and Antofagasta head the list of fallers but all of the miners have been hit - even BHP Billiton which hasn't fallen enough to make the bottom ten. Banks, including HSBC and Barclays, were also lower after the release of figures by their US peers sparked fears that loan problems will continue for some time. In contrast, utilities had a good day. Scottish & Southern Energy, United Utilities and Severn Trent were all higher. This is despite Severn Trent will cut its devidend payout in 2010-11. FTSE 100 - RisersShire Plc (SHP) 1,261.00p +2.60%Cable & Wireless (CW.) 148.10p +1.44%Scottish & Southern Energy (SSE) 1,198.00p +1.18%United Utilities Group (UU.) 508.50p +0.99%WPP Group (WPP) 602.00p +0.92%British Airways (BAY) 202.20p +0.90%Reed Elsevier (REL) 510.50p +0.89%Severn Trent (SVT) 1,127.00p +0.36%Marks & Spencer Group (MKS) 357.30p +0.31%Associated British Foods (ABF) 885.00p +0.28%FTSE 100 - FallersEurasian Natural Resources (ENRC) 962.50p -6.28%Xstrata (XTA) 1,142.00p -6.20%Lonmin (LMI) 1,880.00p -6.19%Antofagasta (ANTO) 977.00p -5.97%Kazakhmys (KAZ) 1,362.00p -5.48%Anglo American (AAL) 2,651.00p -5.20%Rio Tinto (RIO) 3,466.00p -4.29%Vedanta Resources (VED) 2,629.00p -4.16%Randgold Resources (RRS) 4,828.00p -4.11%Fresnillo (FRES) 776.00p -3.84%