UKX FTSE 100 Index

By Carla Mozee, MarketWatch

Bunzl raises dividend payment

Stocks in the U.K. wobbled Tuesday, with mining shares struggling at the start of the holiday-shortened week.

The FTSE 100 was up less than 0.1% at 6,841.98 after opening with a minor loss. Trading was closed Monday for the late August bank holiday.

The index on Friday closed 0.3% higher (http://www.marketwatch.com/story/ftse-100-slips-but-miners-find-relief-after-selloff-2016-08-26) after Federal Reserve Chairwoman Janet Yellen indicated the U.S. economy looks ready to withstand another interest rate increase.

But mining shares on Monday were knocked lower. The fall came after a rough week for the sector last week, driven by a decline for Glencore PLC (GLEN.LN) posted a $369 million half-year net loss (http://www.marketwatch.com/story/glencore-steps-up-debt-cuts-as-it-swings-to-loss-2016-08-24). Glencore shares were down 3.1% on Tuesday.

Jefferies in a note released Tuesday said Glencore's commodity exposure is a positive, but its costs are likely to creep higher. "As a result of increases to our unit cost assumptions, we have lowered our earnings estimates for the company," wrote analyst Christopher LaFemina.

Shares of copper producer Antofagasta PLC (ANTO.LN) dropped 4.1%, and those of iron ore miner Rio Tinto PLC (RIO) (RIO) (RIO) lost 3.7%.

Advancers on the London benchmark included Bunzl PLC (BZLFY) . Shares rose 1.5% after the maker of coffee cups and mops raised its interim dividend payment (http://www.marketwatch.com/story/bunzl-reports-rise-in-first-half-profit-2016-08-30) and posted a 6% rise in first half pretax profit of GBP155.6 million ($203.88 million).

The pound was trading at $1.3088, down from $1.3113 late Monday.

(END) Dow Jones Newswires

August 30, 2016 04:05 ET (08:05 GMT)

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