FTSE 100 drops slightly on opening

FTSE 100 drops slightly on opening

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Tuesday, 17, Nov 2009 10:06

The FTSE 100 dropped slightly on opening on Tuesday morning, down 0.24 per cent.

By 09:50 GMT the index stood at 5,369.79, a drop of 12.88, from the 14-month high recorded yesterday.

A weak session in Asia saw the index slide with miners recording some of the biggest drops.

Lonmin was down 66 points, 3.79 per cent, while Rio Tinto saw drops of 62.50 points, 1.89 per cent.

Cable and Wireless recorded some of the biggest gains in early trading, up 3.69 per cent, after announcing plans to raise £200 million through a convertible bond issue.

Yesterday's gains saw the index reach its highest level since the collapse of Lehman Brothers last September.