Sector movers: Mining down on global economy fears
In a grim day of trading, no sectors have made gains, with mining one of the worst hit areas.
Rio Tinto is among the worst hit blue chips after a bid from BHP Billiton failed to materialise.
In earlier trading Xstrata had bucked the trend, jumping into the FTSE 100's top ten percentage risers on speculation of a bid from Brazil's Vale, or even Anglo American. But its gains were reversed by long term concerns over demand for metals.
Copper prices have been falling on worries that demand would be reduced this year, amid a worsening global economic outlook. Other commodity prices followed the red metal lower.
Personal Goods is the worst performer though, led lower by luxury goods retailer Burberry. JP Morgan was negative on retailers Monday, while investors continued to mull the group's third quarter numbers released last week.
Top performing sectors so far today
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Bottom performing sectors so far today
Personal Goods 7,119.90 -6.00%
Oil Equipment Services & Distribution 13,046.20 -5.70%
Technology Hardware & Equipment 228.70 -5.14%
Mining 20,002.60 -4.81%
Equity Investment Instruments 5,464.50 -4.50%
