Miners and Banks Lead FTSE Lower

MONDAY MARKET UPDATE: Shares in Kazakhmys, Rio Tinto, Lloyds and HSBC all take a hit

Alanna Petroff 4 March, 2013 | 6:07PM
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The benchmark FTSE 100 index and the mid-cap FTSE 250 index were in the red on Monday, weighed down by large-cap miners and banks. The FTSE 100 fell by 33 points, or 0.5%, to close at 6,346. The FTSE 250 declined by 76 points, or 0.6%, to close at 13,675.

"London shares have struggled to make headway all day, having been put on the back foot by the Chinese government’s decision to introduce new measures to take some heat out of the property market. Risk-on stocks such as miners have been hit by this, on fears of reduced demand from the supposedly-insatiable Chinese market," said Chris Beauchamp, market analyst at IG. 

Shares in miner Kazakhmys (KAZ) suffered the sharpest fall of the day on the FTSE 100, while Rio Tinto (RIO) and EVRAZ (EVR) also traded lower.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
EVRAZ PLC625.80 GBP0.00
HSBC Holdings PLC423.75 GBP0.00Rating
KAZ Minerals PLC  
Lloyds Banking Group PLC46.77 GBP0.00Rating
Rio Tinto PLC5,881.00 GBP0.00Rating

About Author

Alanna Petroff

Alanna Petroff  is a financial journalist with Morningstar UK.

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