FTSE 100 movers: Miners lose ground; Segro rallies

London’s FTSE 100 was down 0.2% at 7,883.55 in afternoon trade on Thursday.

Miners were under the cosh as metals prices fell, with Antofagasta, Anglo American and Rio Tinto all down.

Antofagasta was also trading without entitlement to the dividend, while Rio was in focus after it reported record first-quarter iron ore shipments from its Plibara operations in Western Australia as China ramped up steel production, but cut copper output guidance due to issues at its US Kennecott and Chilean Escondida operations.

Paper and packaging companies Mondi, Smurfit and DS Smith all fell.

On the upside, real estate investment trust Segro rallied after saying 2023 had got off to strong start, boosted by solid occupier demand and limited supply.

Consumer healthcare giant Haleon gained as it posted first-quarter sales ahead of expectations, underpinned by a strong cold and flu season.