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Mining stocks rise but FTSE remains lower | |
(about 4 hours later) | |
(Noon): The FTSE 100 remained lower at lunchtime despite extended gains for leading mining companies. A gloomy economic report from the CBI, which cut its growth forecasts for the economy, did not help the mood. | |
Anglo American added to its earlier 3% rise to stand 6% higher. Antofagasta and Fresnillo also built on earlier rises. | |
Giant South African miner Lonmin piled on the gains to 18% after it reported a return to profit thanks to cost savings. | |
The FTSE 100 was down 27.44 at 6,111.06 points. | |
Both Brent and US light crude rose 2% to $48.86 and $47.31 a barrel. | |
The pound was flat against the dollar at $1.4352 but was down 0.22% against the euro at €1.2675. |