London’s blue chip share index remained in negative territory as details of a radical restructuring at mining giant Anglo American compounded falls in the under-pressure commodities sector.
Anglo saw its shares fall 10% to a new record low after it suspended its dividend for the first time in eight years and unveiled a major overhaul – including another 67,000 job losses next year.
Miners littered the fallers board, while oil groups also suffered further falls after the cost of crude sunk to a seven-year low, sending the FTSE 100 Index 34.7 points lower to 6189.8.
Anglo was the biggest faller, down by 30.5p to 338.5p, having already seen its share price decimated over the past year as it suffers amid plunging commodity prices due to the slowdown in China and other emerging markets.
BHP Billiton followed not far behind with a 5% fall, off 39.9p to 725.3p.
BP, which dropped 3% on Monday on sharply lower oil prices, was down another 2%, off 5.4p to 342.3p.
But airlines were benefiting from the falls in the cost of crude, which will help reduce their costs.
British Airways parent International Consolidated Airlines was 2% higher, up 10.8p to 597.8p, while easyJet lifted 17p to 1722p.