Markets: commodities rout drags FTSE 100 further down
The FTSE 100 took another big hit on Friday, sliding a further 1.9% to close at 5,804.
- FTSE 100 down 1.9% to 5,804
- Gold up 0.97% to 1,088.88/oz
- £/$ - 1.4258
Commodity stocks led the index down. Anglo American was the biggest faller of the day, down 11.5%, while Glencore lost 7% and BHP Billiton was 6.5% lower.
In Europe, the Paris CAC 40 fell 2.4% to 4,210, and the German Xetra Dax lost 2.5% to 9,545.
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
In the US, the Dow Jones Industrial Average slid 2.4% to 15,988, the S&P 500 lost 2.2% to 1,880, and the Nasdaq Composite was 2.7% lower at 4,488.
Overnight in Japan, the Nikkei 225 fell 1.1% to 16,955, and the broader Topix index was 1% lower at 1,387. And in China, the CSI 300 rose 0.4% to 3,130, and the Shanghai Composite added 0.4% to 2,913.
Brent spot was trading at $28.30 early today, and in New York, crude oil was at $28.94. Spot gold was trading at $1,089 an ounce, silver was at $13.89 and platinum was at $826.
In the forex markets this morning, sterling was trading against the US dollar at 1.4312 and against the euro at 1.3152. The dollar was trading at 0.9189 against the euro and 117.33 against the Japanese yen.
And in the UK, Home Retail Group says it has agreed to sell Homebase to Australian conglomerate Wesfarmers for £340m. The deal clears the way for Sainsbury's to acquire the rest of the business.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Review: The Store, Oxford – purveyors of excellence
MoneyWeek Travel The Store is a luxurious, new hotel in Oxford that has set up shop in a former department store in the heart of the city
By Chris Carter Published
-
Seven ways the Budget could hike inheritance tax or capital gains tax at death
Chancellor Rachel Reeves could target death taxes by raising IHT and/or levying CGT on inheritances. We look at some potential moves in the Autumn Budget
By Ruth Emery Published