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FTSE slips in stock market trading

FTSE slips in stock market trading
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A fall in metal prices has prompted the FTSE 100 to decline during stock market trading this morning.

According to Reuters, the benchmark index was 0.6 per cent down at 08:51 BST, taking it to 4,982.65 points.

Lonmim, Fresnillo, Xstrata, Kazakhmys, Rio Tinto and Anglo American slid by up to 2.5 per cent, while a one per cent drop in the value of oil also affected the share price of Cairn Energy, BP, Tullow Oil, Royal Dutch Shell and BG Group.

"We have all the heavyweight sectors lower and this is why indices are weaker this morning, with the miners the main sufferers," market strategist Joshua Raymond explained.

Elsewhere, there were falls for Lloyds Banking Group, Standard Chartered, HSBC, Royal Bank of Scotland and Barclays, which were all up to 1.5 per cent lower.

Mr Raymond added that many investors have been "looking to lock their profits" during morning trading.
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