Sector Movers: Miners drag on FTSE

18th Feb 2013 16:09

Industrial Metals & Mining proved to be the worst performing sector on Monday, dragged lower by weaker metal prices. Gold futures dropped 1.59% to $1,609.50 per troy ounce on Monday afternoon, dragging the likes of Fresnillo lower.Platinum lost 1.94%, while silver dropped 1.66%. By Monday afternoon Kazakhmys, ENRC, Evraz, Antofagasta, and Vedanta were all in the top 10 biggest fallers on the FTSE 100. Anglo American was also dragging the FTSE lower, hit by news of more strikes and violence at Amplats, its South African division, coupled with comments from Credit Suisse, who said it expects the company's net debt to climb. In smaller mining companies, Kryso Resources shares plunged after the mineral exploration company reported delays in its Pakrut gold project in Tajikistan, while shares in AIM-listed mineral mining company Sunrise Resources also fell sharply after a 'probable low diamond grade' was identified in at the company's kimberlite tests in Western Australia. Top performing sectors so far todayReal Estate Investment Trusts 2,281.76 +0.75%Gas, Water & Multiutilities 5,329.43 +0.72%Food & Drug Retailers 4,420.42 +0.64%Tobacco 37,366.11 +0.56%Forestry & Paper 8,913.30 +0.24%Bottom performing sectors so far todayIndustrial Metals & Mining 3,012.87 -2.69%Technology Hardware & Equipment 1,118.69 -1.45%Software & Computer Services 1,031.03 -1.43%Oil Equipment, Services & Distribution 24,390.20 -1.33%Mining 20,475.23 -1.03%