Interest rate threat dampens FTSE performance

Following a positive start to trading the London market was back in the red today as profit taking at a number of blue chips and the threat of higher interest rates offset a recovery in the mining sector.

The FTSE 100 Index slipped 8.6p to 5839.1 by mid morning as investors mulled over minutes from the Bank of England which showed a member of the Monetary Policy Committee became the first in a year to vote for a hike in interest rates.