03/04/14 Market Movements

The FTSE100 closed down 9.9 points at 6,649.14 as mining’s two-week rally ended and dragged the FTSE100 into negative territory.

Mining stocks took the most points off the FTSE100 as copper prices weakened after Chinese stimulus measures fell short of expectations.  This news caused the mining sector to fall 0.8% and end a rally that has seen the sector rise 6.8% over the last two weeks.

In more positive news, Tullow Oil was the biggest FTSE100 climber of the day after UBS upgraded Tullow’s rating from “Neutral” to “Buy”.