FTSE Moves: London market eases after miners suffer slump

The London market struggled for direction in afternoon trading as miners fell after metal prices weakened.

The FTSE 100 Index fell 7.6 points to 6813.2, after heavyweight commodity stocks propped up the market following a copper and aluminium price ease. The FTSE 250 Index was 79.8 points lower at 17767.5.

The moves sent silver miner Fresnillo down 61p at 1629p, BHP Billiton 34p lower at 1006.5p while Anglo American fell 25.1p to 792.4p.

Trustnet Direct market analyst Tony Cross said: "Miners continue to dominate the lower reaches of the index."

Housebuilder Berkeley Group jumped 76p to 2671p, after mortgage lender Nationwide, said house price rises picked up speed more than expected in August. Berkeley found favour with traders even though it is tipped to exit the top flight after a top-flight reshuffle later this week.

Rivals Persimmon lifted 2p to 1835p and Barratt Development rose 4.4p to 496.3p on the news.

In afternoon trading the biggest risers on the FTSE 100 Index were Berkeley Group (+76p to 2671p), Barclays (+4.2p to 173.3p), HSBC (+10.4p to 568p), Standard Chartered (+11.8p to 644.5p) and Lloyds Banking Group (+1p to 60p).

The biggest fallers on the FTSE 100 Index were Fresnillo (-61p to 1629p), BHP Billiton (-34p to 1006.5p), Anglo American (-25.1p to 792.4p), Randgold Resources (-200p to 7160p) and Rio Tinto (-62.5p to 2288p).

In afternoon trading the biggest risers on the FTSE 250 Index were St. Modwen Properties (+9p to 284p), Safestore (+9p to 371.8p), Polypipe Group (+5.7p to 294.5p), Capital & Counties (+5.7p to 297.6p) and Paragon (+6p to 319.1p).

The biggest fallers on the FTSE 250 Index were Grafton Group (-62p to 546p), Restaurant Group (-26.4p to 369.6p), Hochschild Mining (-12.2p to 242.5p), AO World (-8.1p to 167p) and Ascential (-12.3p to 256p).