FTSE 100 index lower on airlines as miners’ share prices start to rise
The FTSE 100 was down in mid-morning trading as International Consolidated Airlines Group (IAG) and Easyjet's share prices weighed on the index.
The UK's top blue-chip index was 0.43 per cent down at 6,241 points in mid-morning trade.
The FTSE 100 was lower this morning as security scares came back into play, amid fresh terror concerns following the Paris attacks. IAG and Easyjet were down 2.93 per cent at 574.25p per share and 2.05 per cent at 1,675.5p per share. Rolls-Royce's share price also fell 1.96 per cent to 544.25p.
Their share prices fell after the news of two Air France flights being diverted following anonymous bomb threats. Both planes landed safely.
InterContinental Hotels was also down 1.28 per cent at 2,468.5p per share.
Read more: FTSE 100 index opens higher despite further losses by Easyjet
It wasn't all doom and gloom, however, as while miners started the day in negative territory, Antofagasta, Anglo America, Glencore, Fresnillo and Rio Tinto were all rising in mid-morning trade.
Glencore, was 2.43 per cent up at 90.96p per share, while Anglo American was up 2.4 per cent to 441.3p per share. Antofagasta was up 2.62 per cent to 484.65p per share, while Fresnillo and Rio Tinto rose 1.19 per cent to 680p per share and 1.17 per cent to 2,240.5p per share respectively.
Yesterday miners also made losses. "Mining companies gave up early gains after the oil price reversal took the shine of the recovery in the commodity complex. Anglo American fell by over four per cent as copper prices hit a fresh six-year low," Jasper Lawler, an analyst at CMC Markets said.
Read more: FTSE 100 holds firm after Paris attacks
In more positive news, Hikma Pharmaceuticals eased fears over a "warning letter" sent last year by the US Food and Drug Administration (FDA) over a plant in Portugal.
The company said in a statement today it had received a letter from the FDA to say it was "closing out" the letter from last year. Hikma's share price rose 2.87 per cent to 2,011.5p on the news.
Meanwhile, AstraZeneca's stock lost some of yesterday's gains made on the back of a new cancer drug, Tagrisso, that will cost $12,750 (£8,944) per individual. Its share price was 0.84 per cent down at 4,360.25p per share.