LONDON (ShareCast) - 1430: London is trading in the same range. US stocks are seen lower as profit takers are expected to be out in force on fears that the recent good performance may be overdone. The stronger dollar has taken the momentum out
of the commodities rally. Oil is lower, having recently helped lift energy and materials stocks. FTSE 100 is down 75 points to 4367.
1325: London's top stocks are still down, with miners making up eight out of the ten main blue chip fallers. US stocks are not expected to provide any support, with futures pointing to a sharp fall. FTSE 100 is down 69 at 4,373.
1235: London has struggled all morning with mining stocks under pressure as the dollar recovers. Oil stocks are also down. Lonmin (LSE: LMI.L - news) , Rio Tinto (LSE: RIO.L - news) and Xstrata (LSE: XTA.L - news) are the worst performers. Lloyds Banking (LSE: LLOY.L - news) remains top of the risers. FTSE 100 down 73 at 4,369.
1120: Footsie (news) has dropped further with platinum miner Lonmin leading the fallers after it shut down its Number One furnace. Other miners are also under pressure led by Rio Tinto, Vedanta, Antofagasta (LSE: ANTO.L - news) and ENRC. Tullow is the major faller among the oil stocks with Royal Dutch Shell (Amsterdam: RDSA.AS - news) not far behind. FTSE 100 is down 79 at 4,362.
0940: Resource stocks continue to drag the market lower, as metals and crude oil prices shift into reverse. Platinum miner Lonmin is the worst performer after it said its Number One furnace has been shut down following a matte run-out yesterday. The group's initial estimate is that a full repair of the vessel is likely to take around 30 days. FTSE 100 is down 73 at 4,368.
0830: Footsie has made an ugly start to the day with big falls by the miners dragging the whole index lower. Only five shares are in the blue currently. Lloyds, AstraZeneca (LSE: AZN.L - news) and Smith & Nephew are among them, but these gainers are more than outweighed by falls by Vedanta, Rio Tinto and Xstrata with the whole mining sector under pressure. FTSE 100 down 53 at 4,388.
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