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Article: Markets: FTSE withstands miners' slide
- Article from:
- The Scotsman
- Article date:
- October 10, 2009
- Author:
CopyrightCopyright 2009 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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LONDON FTSE 100 CLOSE 5,161.87 +7.23
MINING companies have been soaring on the weak dollar in recent
weeks, but the sector was dragged lower yesterday by downbeat broker
comment.
Goldman Sachs issued a note pointing out that volumes at
Vendanta's aluminium, zinc and iron ore facilities had been lower
than predicted.
Vedanta shares were 3 per cent lower at one point, but recovered
to close down 28p at 2,162p. Anglo American and Eurasian Natural
Resources were also losers, slipping 30.5p to 2,151.5p and 12.5p to
953p respectively.
Sector weightings mean commodity-linked companies typically set
the tone for the bluechip FTSE 100, but the index managed to
continue its recent rise, closing up ...