• FTSE 100 down 0.3% to 6,437
• Gold up 0.95% to $1,323.23/oz
• £/$ – 1.6097
The FTSE 100 was back on the slide again yesterday as America’s debt woes continued to weigh on the markets. The index closed down 0.3% at 6,437.
Retailers were under fire. Clothes retailer Sports Direct was the day’s worst performer, with a fall of 4.3%. Marks & Spencer lost 2.8%, and Next was 2.5% lower.
In Europe, the Paris CAC 40 rose one point to 4,165, and the German Xetra Dax was 31 points lower at 8,591
In the US, the Dow Jones Industrial Average and the S&P 500 each fell 0.9% to 14,936 and 1,676 respectively, and the Nasdaq Composite lost 1% to 3,770.
Overnight in Asia, Japan’s Nikkei 225 rose 0.3% to 13,894, and the broader Topix index gained 0.2% to 1,150. And in China, the Shanghai Composite rose 1.1% to 2,198, and the CSI 300 was 1.4% higher at 2 ,441.
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In the forex markets this morning, sterling was trading against the US dollar at 1.6074 and against the euro at 1.1845. The dollar was trading at 0.7369 against the euro and 97.08 against the Japanese yen.
And in the UK, the economic recovery is “gathering momentum” as Britain’s factories enjoy a “growth spurt” according to the British Chambers of Commerce (BCC). Manufacturing sales and orders are rising at their fastest rate since the early 1990s. The BCC estimates that growth in the third quarter will be between 0.9% and 1%.