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FTSE 100 held back by falling mining company shares, with Rio Tinto down 1.5%

This article is more than 9 years old
Worries about Chinese growth and rising US interest rates drags down metal prices

With the FTSE 100 not surging as much as first expected despite the Scottish no vote to independence, mining shares are proving a drag on the market.

Metal prices have come under pressure on continuing worries about the outlook for China's economy, given the country is a key consumer of commodities. Meanwhile investors are beginning to wonder if US interest rates may rise more quickly than expected, given the latest data showing weekly jobless claims dropped by more than expected last week. A rate rise would, among other things, lift the dollar and make commodities priced in the US currency more expensive.

So copper, for example, is on track for a fourth straight week of losses, helping push down mining shares.

Indeed, seven of the top ten FTSE 100 fallers are mining groups.

Rio Tinto has lost 53p to 3176.5p, Anglo American is down 20.5p at £14.69, Randgold Resources has fallen 52p to £43.78, and BHP Billiton is 27p lower at 1789.5p.

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