MARKET REPORT: Slowdown in China puts mining shares under pressure
MINING shares were under pressure amid concerns over a slowdown in economic growth in top metals consumer China.
Concerns over a slowdown of growth of China puts mining shares under pressure
BHP Billiton and Anglo American dipped 47½p to 1416p and 23¼p to 998¾p. Buy support from Deutsche Bank with a 2200p target lifted drinks giant Diageo 2p to 1940½p, while bullish broker comments following its takeover of Friends Life boosted insurer Aviva 6½p to 561½p.
Alton Towers operator Merlin Entertainments enjoyed its opening day ride as a member of the FTSE 100 (replacing Friends Life), rising 3¾p to 458¾p. Theme park ticketing systems firm Galasys jumped 1¾p to 24¼p after a 35 per cent rise in annual pre-tax profit and as Chinese IT heavyweight Beijing Shiji took a 13 per cent stake in a share placing.
Personalised medicine group Epistem improved 55p to 320p as dealers noted Indian approval of a licence to import its tuberculosis diagnostic kit, while animal pharma products developer ECO Animal Health gained 34p to 239p as it flagged higher annual profits.