Miner declines drive FTSE down

The FTSE 100 remains marginally in the red this afternoon, with miners dragging on the index.

London's blue-chip index was down 0.11% to 5,751 by by 2:30pm. Miners are retreating on the back of BofA-Merrill Lynch Global Research downgrading Vedanta Resources. Vedanta, down more than 2%, is planning to buy a controlling stake in Cairn India. Lonmin is down nearly 1%, with Antofagasta and Xstrata also suffering losses. The spotlight is also shining on IPO activity, with AIA, the Asian arm of the American insurance giant AIG, raising $20.5bn from a float and online betting firm Betfair priced its London float at £13. A number of financials are among the day's winners, with RB...