(Midday): Mining shares pulled the UK’s benchmark share index decrease after an increase within the worth of the greenback hit commodity costs.
Shortly earlier than noon the FTSE 100 was down 30.35 factors at 6,828.60.
Hypothesis that US rates of interest might rise within the close to future has pushed up the greenback in current days.
This tends to depress demand for commodities similar to metals and oil, as they’re priced in US dollars. The worth of gold fell to 2-week lows.
Gold and silver miner Fresnillo was the most important faller within the FTSE one hundred, down 6.1%, whereas Randgold Assets dropped four.four%.
Shares in housebuilders have been in favour with buyers. Taylor Wimpey rose three.1% whereas Barratt Developments climbed 2.1%. Persimmon, which is because of launch outcomes on Tuesday, rose 2%.
On the foreign money markets, the pound edged up zero.1% against the dollar to $1.3087 however rose zero.three% against the euro to €1.1588.
Later within the week, analysts will probably be eyeing the annual assembly of central bankers at Jackson Gap, Wyoming. The speech from Federal Reserve chief Janet Yellen on Friday will come underneath specific scrutiny for any clues because the timing of a US rate of interest rise.
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