London shares down despite miners

Jessica TranterLast Update : Wednesday 11 May 2016 - 11:16 AM
London shares down despite miners

FTSE opens down despite gains for miners

London stock brokers (file photo)Image copyright AFP

(Open): London’s FTSE 100 was lower at the start of Wednesday trade, despite gains for the key miners listed in the top 100.

Rangold Resources lead the resources stocks higher, rising 2.55%. Anglo American was up 1.5%, another small gain to add to Tuesday’s but still not a catch up on Monday’s 14% loss.

The FTSE 100 was down 7 points at 6,149.57.

Travel company Tui was a faller outside the top flight, down 3% after results.

It reported a half-year loss of €236.9m (£186m), up from last year’s €283.1m loss.

Tui is selling various bits of the business. It is planning to sell its outdoor package provider in the UK and last month said it would sell Hotelbeds Group for €1.2bn.

William Hill shares were another 250 faller, down by 3% after a trading update repeated the message of difficult trading conditions and too many winners at this year’s Cheltenham Festival and in European football.

On the currency markets, the pound was all but flat against the dollar to $1.4427 and was down 0.28% against the euro to €1.2666.

Source: BBC Business

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2016-05-11 2016-05-11
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Jessica Tranter