Markets: FTSE 100 starts the week in a downbeat mood

• FTSE 100 down 1.1% to 6,672
• Gold up 0.92% to $1,203.52/oz
• £/$ - 1.5653

FTSE 100

Oil stocks were among the worst performers as the price of Brent crude fell to its lowest in six years Royal Dutch Shell lost 2.7%, and BP fell 1.7%. Engineering and support services firm Weir was the day's biggest faller, down 5.3%

In European markets, the Paris CAC 40 fell 44 points to 4,375, and the German Xetra Dax lost 73 points to 10,014.

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In the US, the Dow Jones Industrial Average fell 0.6% to 17,852, and the S&P 500 lost 0.7% to 2,060, and the Nasdaq Composite was 0.8% lower at 4,740.

Overnight in Japan, the Nikkei 225 fell 0.7% to 17,813, and the broader Topix lost 0.8% to 1,436. And in China, the Shanghai Composite slid 5.4% to 2,856 and the CSI 300 was 4.5% lower at 3,106.

Brent spot was trading at $65.73 early today, and in New York, crude oil was at $62.84. Spot gold was trading at $1,208 an ounce, silver was at $16.45 and platinum was at $1,231.

In the forex markets this morning, sterling was trading against the US dollar at 1.5682 and against the euro at 1.2688. The dollar was trading at 0.8091 against the euro and 119.65 against the Japanese yen.

And in the UK, Tesco's woes continued as it issued its fourth profit warning this year. The supermarket now says profits for the year to 28 February will be no more than £1.4bn. Analysts had been expecting between $1.7bn and £2.2bn. Tesco shares were down by 15% in today's early trading.

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