FTSE sinks to a five-week low as miners and bank stocks fall

BRITAIN’S top share index sank to a five-week closing low yesterday as investor confidence was further undermined by the uncertain global economic outlook, with miners bearing the brunt of the sell-off.

The FTSE 100 fell for a third day in a row and ended down 56.04 points, or 1.0 per cent, at 5,718.39, its lowest closing level since 24 June.

Miners dropped along with metals prices after data showed consumer spending in the United States fell unexpectedly in June to show the first decline in nearly two years.

But silver miner Fresnillo was the top riser, up 4.6 per cent, on strong results figures.