BP, largest company in the UK, declined as the crude price fell below $61 a barrel amid concern about high US inventories. The volatile mining sector also dipped largely weaker, with Kazakhmys plunging. Xstrata bucked the downttrend among the miners after it announced a three-for-one rights issue to fund acquisition of Falconbridge of Canada. The FTSE 100 index lost 48.4 points, or 0.8%, to 5,908.8 by midday. |
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