FTSE 100 gets off to a bad start

The FTSE 100 got off to a rough start after the long weekend, falling 40 points to 6,231.

FTSE 100 down 0.6% to 6,231 Gold up 0.8% to $1,215.33/oz £/$ 1.4483

The FTSE 100 got off to a rough start after the long weekend, falling 40 points to 6,231.

Satellite communications company Inmarsat led the sell-off on Tuesday, losing 3.7%. British Land and broadcaster ITV both followed with losses of 2.6%.

Payments processing group Worldpay was the day's highest climber, up 1.8%.

In Europe yesterday, the Paris CAC 40 fell 23 points to 4,506, and the German Xetra Dax lost 70 points to 10,263.

In the US, the Dow Jones Industrial Average slipped 0.5% to 17,787, the S&P 500 fell 0.1% to 2,097, and the Nasdaq Composite bucked the trend with a 0.3% rise to 4,948.

Overnight in Asia, Japan's Nikkei 225 fell 1.6% to 16,956, and the broader Topix index slipped 1.3% to 1,362. And in China, the Shanghai Composite lost 0.1% to 2,914, and the CSI 300 fell 0.3% to 3,161.

Brent spot was trading at $49.69 early today, and in New York, crude oil was at $48.64. Spot gold was trading at $1,217 an ounce, silver was at $15.99 and platinum was at $976.

In the forex markets this morning, sterling was trading against the US dollar at 1.4490 and against the euro at 1.2987. The dollar was trading at 0.8966 against the euro and 110.07 against the Japanese yen.

And in the UK, Tata has sold its steelworks in Scunthorpe and its businesses in Teeside, Workington and York to Greybull Capital for a nominal £1. The deal will secure 4,400 jobs in Britain, along with the reviving of the British Steel brand.

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