View more on these topics

FTSE tumbles below 4,000 to yearly lows

The FTSE 100 struck yearly lows of 3,907 this morning after a sell-off in mining stocks with news that mining giant Anglo American was suspending its dividend.

By 9.30, the UK index had fallen 2.2 per cent to 3,929 after the miner posted a 3 per cent fall in 2008 pre-tax profits to £6bn and warned that 2009 would be tough.

Shares in the company have dropped by over 12 percent to 1,088p after it suspended dividend payments and share buybacks and announced plans to axe an additional 9,000 jobs in a bid to retain cash.

Rio Tinto, the third largest miner globally was down 8.5 per cent to 1,830p and BHP Billiton also fell 4.24 per cent to 1,130p.



News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm