FTSE 100 Live: UK stocks head lower led by mining sector sell-off

FTSE 100 down 31 points at 10,802 Miners lead the decline Scottish Mortgage heads Footsie Economy grows by 0.4% 9.27am: Scottish Mortgage heads the risers Scottish Mortgage rose 1.8%, one of the few blue chips in the green, and the reason sits several thousand miles west. US inflation eased for a second month in July to 3.4%, with core down to 2.5%, the softest in five months. That has knocked the implied odds of a September Fed hike back to just above 40% and pulled the two-year Treasury yield down to 4.20%. Lower yields flatter long-duration growth stocks, which is precisely what Baillie Gifford's flagship owns. Then the AI infrastructure trade did the rest. CoreWeave jumped on 112% revenue growth, Super Micro more than doubled earnings estimates, and Nvidia, a top ten holding, added 2.7%. TSMC, ASML, Amazon and Meta sit nearby in the portfolio, with SpaceX preference shares accounting for more than a tenth of it. 8.30am: Miners drag FTSE 100 lower as metals rally runs out of road Mining shares dragged the FTSE 100 down more than 50 points on Thursday, unwinding a chunk of the sector's recent gains as metal prices lost momentum. Antofagasta, the Chilean-focused copper producer, was the worst performer, down 4.79% at 3,842p. Rio Tinto fell 4.08% to 7,217p, Fresnillo dropped 3.81% to 2,897p, Endeavour Mining lost 2.71% at 4,176p and Anglo American slipped 2.59% to 3,953.5p. The selling follows an unusually strong stretch for the sector, with copper reaching record levels on the London Metal Exchange last week above $14,200 a tonne. Much of that move was driven by supply worries rather than demand, including the Democratic Republic of Congo's ban on exports of copper concentrate and the ...