Business

FTSE 100 dips as Glencore shares slide

Trader in London Image copyright AFP

(Close): The London market slipped after Glencore shares were hit by its latest set of results.

Glencore's shares fell 3% to 184p after first-half profits fell to $300m, although the mining giant also said it would speed up the reduction of its debt pile.

At close the FTSE 100 was 32.73 points lower at 6835.78.

The world's largest advertising group, WPP, was having a better day, with its shares up by nearly 1.89%.

WPP said sales in the first half of the year grew by a faster-than-expected 3.8%.

Shares in housebuilders enjoyed another good day following Persimmon's upbeat results on Tuesday. Barratt Developments and Berkeley Group were up by 2.94% and 2.68% respectively.

South African-focused stocks fell after the country's currency, the rand, was hit by rumours that South Africa's finance minister, Pravin Gordhan, could face charges in relation to an alleged rogue unit at the state tax revenue service.

On the currency markets, the pound rose 0.2% against the dollar to $1.3226, and was 0.7% higher against the euro at €1.1757.