UK shares decline as Glencore drags commodity producers

London - UK shares fell for the third time in four days, with miners among the worst performers, as Glencore reported worse-than-estimated first-half profit.

Glencore dropped 2% after posting a 66% drop in earnings on lower raw-materials prices. Anglo American retreated 3%, while BHP Billiton and Rio Tinto lost at least 1.4%. WPP bucked the trend, rising 3.1%, after the world’s largest advertising company said favourable currency translations helped boost profit by 15% in the six months to end-June.

The FTSE 100 Index slipped 0.5% to 6 832.27 at 09:11. A surge in homebuilders yesterday helped the index snap a two-day streak of losses. The FTSE 250 Index of mid-cap shares fell 0.4% today. The regional Stoxx Europe 600 Index retreated 0.5%.