At the close: FTSE 100 index closes down on Aberdeen Asset Management and BHP Billiton
The FTSE 100 index closed down today, led lower by Aberdeen Asset Management and BHP Billiton.
The UK's top blue-chip index ended Monday's session 0.3 per cent down, at 6,356 points.
Aberdeen Asset Management's share price fell 4.6 per cent to 319.4p after having reported a 12.5 per cent fall in assets under management. The investment giant, which specialises in Asian markets, experienced net outflows of £12.7bn during the three months from July to September. Total assets at the end of the period were valued at £283.7bn – a big fall from £324.4bn a year earlier.
"Our current assumption for September 2016 is for continued outflows … given the comment in the outlook statement that management believe the current weakness [in emerging markets] may have some way to run," Shore Capital analyst Paul McGinnis said.
Read more: Aberdeen Asset Management hit by emerging market struggle
Meanwhile, BHP Billiton's stock fell 1.32 per cent to 796.9p per share after the Brazilian government said it will take legal action, seeking $5.2bn in damages after the Samarco mine disaster.
BHP and local company Vale both hold a 50 per cent stake in the Samarco Mineracao iron-ore mining operation in Minas Gerais, Brazil, where a dam holding back waste water burst at the beginning of November.
This went against a number of other miners, including Glencore, which rose 5.26 per cent to 96.71p. Antofagasta, meanwhile, rose 2.17 per cent to 507.5p and Anglo American's share price increased 2.12 per cent to 408.65p.
Read more: BHP Billiton faces $5.2bn payout after Samarco disaster
"A rebound in commodities supported miners on the FTSE 100 but heavily-weighted bank shares including Lloyds and Barclays were lower," CMC Markets analyst Jasper Lawler said. "It looks like the Bank of England may begin counter-cyclical measures to slow bank lending as the economy recovers as part of its bank stress tests and financial stability review before it raises interest rates."
Lloyds' share price fell 0.6 per cent to 72.96p, while Barclays' stock fell 0.49 per cent to 223.2p per share. HSBC, meanwhile, fell 1.01 per cen tto 529.5p per share.
On the FTSE 250, pork producer Cranswick put in far from its worst performance in the six months to the end of September, after it posted a 9.9 per cent rise in revenues. Its share price rose 5.71 per cent to 1,797p on the news.