Miners suffer as global economic fears send FTSE into decline

THERE were broad losses on the FTSE 100 today, as the index home to a range of major multinational companies tracked returning fears over the global economy.

- Michael Hunter

Shares in miners of industrial metals looked particularly exposed.

Anglo-American was down 52p to 2280p, a drop of over 2%. Antofagasta, the Chilean copper producer, was 26p weaker at 1477p.

The drops came after economic data from the sector’s biggest customer, China, fell back. The Caixin General Services Purchasing Managers’ Index disappointed with a decline in June to 53.9 from 57.1 in May.

Wider concern over a potential slowdown in China slowed other companies directly exposed to Asian markets.