FTSE 100 feels effect of mining stocks plummet, Fresnillo biggest loser - Spread Betting News

May 12, 2011 - PRLog -- Spread betting provider City Index (http://www.cityindex.co.uk/) takes a look at the financial activity shaping the markets on 12th May 2011.
Yesterday (May 11th), the Standard and Poor's 500 (S&P 500) Index closed down by more than one per cent, with its energy sector experiencing the biggest decline after it tumbled by 2.94 per cent.

It would appear that mining stocks on the FTSE 100 have followed this lead, with Fresnillo this morning proving to be the biggest faller.

As of 09:53 BST, the miner was down by 5.74 per cent on yesterday's close, with Eurasian in third place, declining by 3.77 per cent.

Meanwhile, Kazakhmys had fallen by 3.64 per cent and Antofagasta took a 3.53 per cent hit.

The mining stocks tumble did not end there, with BHP Billiton retreating by more than three per cent and Rio Tinto losing 3.14 per cent.

Overall, the FTSE 100 was trading on 5,915.07 points, more than one per cent lower than yesterday's close.

Investors may now wait to see if the decline tails off as the session continues.

Find out how you can spread bet on the move with City Index
See how you can start spread betting with City Index at http://www.cityindex.co.uk/spread-betting/
Spread betting and CFDs are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.
* Spread betting and CFD trading are exempt from UK stamp duty. Spread betting is also exempt from UK Capital Gains Tax. However, tax laws are subject to change and depend on individual circumstances. Please seek independent advice if necessary.
About City Index:
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, CFD trading and, in the UK, financial spread betting.
We constantly look to widen the range of assets we offer, improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support. Visit http://www.cityindex.co.uk/ for more information.

# # #

As a group, City Index transacts in excess of 1.5 million trades every month in over 50 countries worldwide. We provide a wide range of instruments including forex, CFD trading and spread betting. For more information, visit http://www.cityindex.co.uk/.