MINERS DRAG COMMODITY-HEAVY FTSE 100 LOWER
Britain's commodity-heavy FTSE 100 fell on Tuesday as miners weakened on soft metal prices, while luxury retailer Burberry hit an 11-month low following a ratings downgrade. The FTSE 100 (.FTSE) closed 0.5% lower, with the mining sector (.FTNMX551020) shedding 2.3% as the soaring dollar weighed on metal prices.
Miner Antofagasta (ANTO.L) fell 3.2% as copper prices hit a four-month low. "As soon as we start to see some negative economic data news, the dollars gains can retrace quite quickly, but for now it does look like more upside in the dollar," said Giles Coghlan, chief market analyst at HYCM.