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FTSE 100 Slides As Miners Drag

U.K. shares were marginally lower on Wednesday to extend losses from the previous session as the recent correction in copper prices on worries over rising inventories and doubts about Chinese demand pulled down mining stocks.

The benchmark FTSE 100 was down 11 points or 0.15 percent at 7,317 in late opening deals after closing 0.2 percent lower in the previous session.

Miners Anglo American, Antofagasta, BHP Billiton and Rio Tinto fell between 0.7 percent and 1.1 percent.

Financial services firm Legal & General Group lost 1 percent after it agreed to sell its Mature Savings business to the ReAssure division of Swiss Re Ltd for 650 million pounds.

Smith & Nephew declined half a percent. The medical equipment group said it has completed the acquisition of Rotation Medical Inc., the developer of a novel tissue regeneration technology for shoulder rotator cuff repair.

Shopping center investment firm Hammerson tumbled 2 percent after making a recommended £3.4bn offer for rival Intu Properties. Shares of Intu surged as much as 19 percent.

Insurance and travel specialist Saga plunged 24 percent after a profit warning.

EasyJet rose about 1 percent on reporting an 8 percent growth in passenger traffic for November.

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