FTSE 100 Falls Amid Weak Mining Stocks and Dividend Payments
The FTSE 100 index closed lower in London on Thursday, down 0.6% at 10,772.67, despite a resilient economic growth print.
Mining stocks led the fallers, with Antofagasta down 6.8%, Rio Tinto down 4.8%, and Fresnillo down 4.7% due to their ex-dividend status and a weaker gold price.
Antofagosta's first-half results showed mixed news for investors, with earnings ahead of expectations but higher debt, and the company lowered its annual copper production outlook after severe weather in Chile disrupted output.
The UK economy grew 0.4% quarter-on-quarter in the second quarter, as expected, but a positive end to the period provided a welcome lift to otherwise in-line growth figures.