Markets: FTSE 100 pulls back from record high
The FTSE 100 slipped back once more yesterday, falling 0.5% to close at 7,060.
- FTSE 100 down 0.5% to 7,060
- Gold down 0.34% to $1,198.56/oz
- £/$ - 1.4934
Publishing group Pearson led the market down, sliding 4% after news that it may face legal action over an educational contract in the US. Drinks group Diageo lost 3.6%, and engineering group Meggitt fell 3.1%.
In European markets, the Paris CAC 40 fell 0.6% to 5,224, and the German Xetra Dax slid 1.9% to 11,998.
In the US, the Dow Jones Industrial Average slipped seven points to 18,105, the S&P 500 fell 0.1% to 2,104, and the Nasdaq Composite was 0.1% lower at 5,007.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Overnight in Japan, the Nikkei 225 lost 1.2% to 19,652, and the broader Topix index fell 0.7% to 1,588. And in China, the Shanghai Composite rose 2.2% to 4,287, and the CSI 300 added 1.8% to 4,596.
Brent spot was trading at $63.67 early today, and in New York, crude oil was at $56.37. Spot gold was trading at $1,204 an ounce, silver was at $16.36 and platinum was at $1,164.
In the forex markets this morning, sterling was trading against the US dollar at 1.4971 and against the euro at 1.3873. The dollar was trading at 0.9266 against the euro and 118.81 against the Japanese yen.
And in the UK, Morrisons says it plans to cut 720 of the 2,300 staff at its Bradford head office, while creating up to 5,000 shop floor jobs. Office staff being made redundant will be offered jobs in the company's stores.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Which UK region has the most in savings? Average savings by area
The amount people have in their savings differs from region to region in the UK. How does your nest egg compare to those living nearby?
-
Doug and Mary Perkins: Specsavers’ clear-sighted founders
Helped by the deregulation of the sector in the 1980s and brilliant advertising, Mary Perkins and her husband Doug have taken Specsavers to the top of the optometry market