FTSE dips on sanctions with Antofagasta falling but Barclays up 5%

Miner slips on worries about copper prices but bank soars after beating expectations

Another day, another splurge of company results, with mixed receptions.

Antofagasta has fallen 25p to 830p despite beating forecasts with a near 6% quarter on quarter increase in second quarter copper output to 178,000. The company, like its peers, has struggled with falling metal prices and rising costs. In the previous quarter output was hit by maintenance at its Los Pelambres and Esperanza operations. It said it was on track to hit its full year target of 700,000 tonnes of copper, and with a $3bn investment programme over the next five years, it expects to increase that to 900,000 tonnes.

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via Business Feeds

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