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Britain's FTSE falters as mining stocks lose ground

Mon, 10th Aug 2015 08:14

* Dixons Carphone shares fall after possible cyber attack

* Miners impacted by Investec downgrade on sector

* ESure falls sharply after results miss consensus

By Liisa Tuhkanen

LONDON, Aug 10 (Reuters) - Britain's top share index slippedlower on Monday, weighed down by a drop in major mining stockswhich were impacted by a broker's downgrade on the sector.

The blue-chip FTSE 100 index fell 0.6 percent to6,676.56 points in early session trading. The FTSE is up around1.5 percent since the start of 2015 but is some 6 percent belowan April record high of 7,122.74 points.

"There does seem to be a certain lack of bullish convictionin respect of UK markets at the moment," said Brenda Kelly,analyst at London Capital Group.

Miners, which account for around a tenth of the FTSE 100 interms of market capitalisation, dominated the index's list ofworst-performing stocks, with Anglo American falling 2.6percent while BHP Billiton declined 2.4 percent.

Broker Investec downgraded several stocks in the sector andcut its commodity price forecast due to weakness in demand fromChina, the world's biggest metals consumer.

Shares in Dixons Carphone also fell 1.2 percent afterthe electrical goods and mobile phone retailer said the personaldata of up to 2.4 million of its customers may have been exposedin a cyber attack.

Among mid caps, insurance company Esure dropped 9.3percent after its interim results marginally missed analysts'consensus forecast. (Editing by Tom Heneghan)

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