Miners once again lead the FTSE lower this morning. Down 0.6% in early trade.
Anglo American (-3.1%) Glencore (-2.2%), Rio Tinto (-1.7%), BHP Billiton (-1.4%).
Severn Trent (+0.3%) higher on the back of a broker upgrade to hold vs sell from Investec.
RIO TINTO (-1.74%) Approved a $1.9bn Bauxite Project to Meet China Demand. Credit Suisse are neutral short term and believe the move to be a ‘sensible project with good returns’’
STANCHART (-1.59%) The Standard Chartered CEO has tapped investors for $5.1bn, scrapped dividends and shed toxic assets since joining the bank in June. On Dec. 1, investors will find out if the London-based lender has done enough to weather the latest round of stress tests, based on end-2014 data, as regulators step up scrutiny on exposure to emerging markets.
HSBC (-1.33%) - said to shut down its private banking business in India but there will be no loss to the 32,000 jobs there.
Easyjet (1.23%) is the top gainer on the FTSE. The airline has suffered the trials and tribulations of the downside following the cancellation of all flights to Egypt until next year, its seeing a slight recovery this morning on the news that it will open 30 new routes in France. The lower oil price is likely helping here too.