Markets: FTSE 100 falls back below 7,000

  • FTSE 100 down 0.4% to 6,991
  • Gold up 0.34% to $1,193.53/oz
  • £/$ – 1.4851

The FTSE 100 fell below 7,000 yesterday, falling 0.4% to close at 6,991.

Chipmaker ARM Holdings was the biggest faller of the day, down 6.1%. Software company Sage lost 2.7%, and Barclays fell 2.5%.

In European markets, the Paris CAC 40 fell 1.3% to 5,020, and the German Xetra Dax lost 1.2% to 11,865.

In the US, the Dow Jones Industrial Average slid 1.6% to 17,718, the S&P 500 fell 1.5% to 2,061, and the Nasdaq Composite was 2.4% lower at 4,876.

Overnight in Japan, the Nikkei 225 lost 1.4% to 19,471, and the broader Topix index fell 1.5% to 1,568. And in China, the Shanghai Composite rose 0.6% to 3,682, and the CSI 300 added 0.2% to 3,950.

Brent spot was trading at $59.74 early today, and in New York, crude oil was at $52.40. Spot gold was trading at $1,215 an ounce, silver was at $17.29 and platinum was at $1,157.

In the forex markets this morning, sterling was trading against the US dollar at 1.4964 and against the euro at 1.3546. The dollar was trading at 0.9052 against the euro and 118.43 against the Japanese yen.

And today, the London Taxi Company says it is to build a new £250m plant outside Coventry, creating 1,000 jobs. The company, which was rescued from administration by Chinese carmaker Geely in 2013, says it intends to increase production from 2,000 vehicles a year to 36,000.