Market round-up: Chinese yuan devaluation drives down FTSE 100

Copper mine Calama, Chile — An operator monitors a train where copper cathodes are loaded for shipping to a port, at the Chuquicamata mine near Calama city Reuters/Ivan Alvarado

China's yuan currency fell another 1% on Wednesday 12 August, a day after losing 1.9% of its value. The shift jolted international markets and pushed the FTSE 100 lower. Mining companies were, again, some of the hardest hit. The shock sapped metal prices and brought commodity prices down on continuing fears around China's apparent economic slowdown. The weak currency could mean fewer imports valued against a strong US dollar.

Multinational commodity traders and mining company Glencore saw a -5.65% erosion from the company's stock price. The loss came a day after it fell -7.26% in value. Overall in 2015, the stock has lost 40% from where it was priced at the end of 2014.

British multinational semiconductor and software design company ARM Holdings saw a -4.65% fall in its stock price. On 11 August, it bought back 150,000 ordinary shares after JP Morgan Securities cut its price target on the stock. The FTSE 100 dipped -1.40% to end the day at 6,571.19 after its -1.06% loss on 11 August.

"Fan maker Volution Group was a standout performer among small caps after robust top line growth in the year to the end of July with revenues up 7.9%," said AJ Bell analysts. "The group continues to enjoy strong demand for its products, especially newer, higher value-added ventilation systems and quieter, more energy efficient fans."