FTSE 100 dragged down by miners

<p>Mining stocks have dragged down the FTSE 100.</p>

The FTSE 100 is down this morning (December 2nd), dragged down by mining firms falling.

It dropped shortly after the start of the session, with mining stocks mainly making up the major fallers in the early hours of the day.

In the first hour of trading, the FTSE 100 had dropped 28.73 points – or 0.43 per cent – at 6,621.84, reports BBC News.

By 10:44 GMT, the index was down by 0.71 per cent and still falling even lower.

Fresnillo, Randgold Resources and Vedanta were all within the top five biggest fallers on the index this morning, with the miners' drops weighing heavily on the index.

Tesco's share price has also dipped in today's trading, with the supermarket's stocks almost three per cent lower.

However, there were gains for energy company SSE – which rose by one per cent – and Lloyds Banking Group, which was also around one per cent higher on the opening of the session.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.