Miners lead Footsie lower for fourth day

The FTSE 100 lost ground for the fourth day running as fears over the future of global trade pushed mining stocks lower.

The index fell by 41.26 points to 7,277.7 during trading as investors anticipated the outcome of a consultation on tariffs in the US.

Antofagasta, Fresnillo and Glencore logged some of the steepest declines, falling by 4.1 per cent, 3.3 per cent and 2.6 per cent respectively.

Fiona Cincotta, senior market analyst at City Index, said: “Miners traced metals prices lower as investors awaited news from the White House over more tariffs.

“While the consultation period for the additional US tariffs ended yesterday, the tariffs have not yet been applied, even though the market is clearly expecting them.”

Retailers were also in the red after data showed that the high street registered its worst August for three years, with Kingfisher and Primark owner Associated British Foods falling by 2 per cent and 1.3 per cent respectively.

But Greene King saw sales boosted by a warm summer and the World Cup, with England football fans sinking more than three million pints while watching Gareth Southgate’s men reach the semi-finals. The pubs chain pointed to “positive momentum” as it booked a 2.8 per cent increase in like-for-like sales in the 18 weeks to 2 September. Growth over the last ten weeks stood at 3.2 per cent, helping boost shares by 7.5 per cent or 35.6p to 510.6p.

Air Partner announced a reshuffle of its boardroom pack following a tumultuous few months. Air Partner’s shares closed 1.5p lower at 108.5p.