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FTSE 100 down 50 as China data weighs

Last updated: 13:00 08 Dec 2014 GMT, First published: 14:00 08 Dec 2014 GMT

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London’s blue chip index was back below the 6,700 mark in the middle of today’s trading session as weaker import data from China meant miners were struggling.

China’s annual import and export figures slowed sharply in November, reinforcing signs of fragility in the People’s Republic.

The statistics gave producers of most raw materials little to cheer about with the slowdown likely to have a knock-on effect on commodity prices.

London-listed miners suffered early, with Anglo American (LON:AAL) losing 11p to 1,257p, BHP Billiton (LON:BLT) down 26p to 1,448p and Glencore (LON:GLEN) off 1p to 309p.

Randgald Resources (LON:RRS) bucked the trend though and ended up topping London’s share index as gold held around the US$1,194 mark.

Mike van Dulken from Accendo Markets said the precious metal is seeing renewed interest as a safe haven from weakness and uncertainty as equities have ditched recent highs.

Data elsewhere showed Japan third quarter GDP was worse than expected. German Industrial Production also slowed.

Overall the FTSE 100 was 50 points lower at 6,690 – a 0.8% decline.

J Sainsbury (LON:SBRY) was a strong performer, rising 1.5% to 241p. UK activist investment fund Crystal Amber is in talks with several overseas investors about buying shares in the supermarket, according to reports.

Shares in investment platform operator Hargreaves Lansdown (LON:HL.) lost  4% after the departure of its chief financial officer last week.

Marks and Spencer (LON:MKS) has had to delay deliveries of online orders by up to two weeks after its distribution centre couldn’t keep up with demand on Black Friday. Shares were down nearly 3% this morning.

And EasyJet (LON:EZY) dipped 42p to 1,719p as the budget airline defended the almost £7.7mln in pay and bonuses received by chief executive Carolyn McCall for 2014. Up 24% in the last three months, there was also some profit-taking.

Shares in mid-capp Acacia Mining, the former African Barrick,  (LON:ACA) continued their good form, rising 10% after Deutsche Bank put out an upgrade on the firm.

Amur Minerals (LONLAMC) rocketed 46% to 12p as the last of Russia’s agencies approved its application for a mining licence. All the firm needs now is a signature by prime minister Dmitry Medvedev’s office and it can start to plan production at its huge Kun-Manie nickel deposit.

News that Motive Television (LON:MTV) has started to take pre-orders for TabletTV UK (TTVUK) for Christmas delivery sent its shares higher.

Milestone (LON:MSG), which provides digital media solutions, climbed 16% ahead of the launch event this week for its Passion Project.

Oilex (LON:OEX) told investors that the testing programme for the Cambay 77-H proof of concept well was a success, sending shares 8% higher.

Meanwhile, Access Intelligence (LON:ACC) was the heaviest of the AIM fallers, down 20% as it said sales and profits will now be below market forecasts.

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