FTSE lower as mining shares take a tumble

END-OF-DAY REPORT: Headline shares remained firmly lower into the close, with mining shares taking a tumble as BHP Billiton went hostile in its bid for Potash Corp and ENRC warned of short-term volatility in commodities.

At the close of business, the FTSE100 was down 47.68 points at 5,302.87 with the FTSE250 25.06 points lower at 9,886.79 and the FTSE Smallcaps off 11.38 points at 2,785.21.

In the Midlands, Black Country investment vehicle Bidtimes saw 25% wiped off the value of its shares, while publishing group Johnston Press saw a 15% fall in its share value.

Shirley-based Roeford Properties also struggled, while Malvern-based Desire Petroleum , Moseley pharmaceutical Henderson Morley and household goods and construction group Headlam were also pegged back.

There was better news for Aga Rangemaster as the iconic cooker manufacturer saw its shares increase 4.6%. Black Country-based software supplier Innovise saw a similar increase.

Fellow software supplier eg Solutions , which had earlier issued a trading statement saying performance was in line with expectations, dipped slightly but the Coventry Building Society rounded off a good day with permanent interest bearing shares rising on the back of record interims.

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