Markets: FTSE 100 slides

The FTSE 100 fell back yesterday, sliding 1.1% to close at 6,231.

  • FTSE 100 up 0.2% to 6,231
  • Gold up 0.55% to $1,269.80/oz
  • £/$ 1.4458

Mining stocks were the main drag on the index. Antofagasta was the worst performer of the day, down 6.3%, while Glencore lost 5.3% and BHP Billiton was 4.5% lower.

In Europe, the Paris CAC 40 fell 1% to 4,405 and the German Xetra Dax lost 1.3% to 10,088.

In the US, the Dow Jones Industrial Average fell 0.1% to 17,985, the S&P 500 lost 0.2% to 2,115, and the Nasdaq Composite was 0.3% lower at 4,958.

Overnight in Japan, the Nikkei 225 slipped 0.4% to 16,601 and the broader Topix index fell 0.5% to 1,330. Chinese markets remained closed for a public holiday.

Brent spot was trading at $51.54 early today, and in New York, crude oil was at $50.09. Spot gold was trading at $1,269 an ounce, silver was at $17.25 and platinum was at $994.

In the forex markets this morning, sterling was trading against the US dollar at 1.4439 and against the euro at 1.2761. The dollar was trading at 0.8837 against the euro and 106.80 against the Japanese yen.

And in the UK, Tesco is continuing to sell assets in its bid to turn its fortunes around. Its 54 Giraffe restaurants are to be sold to Boparan Restaurant Holdings, the owner of Northern Foods and the Harry Ramsden's chain. And its 95% stake in Turkish retailer Kipa will be sold to local retail chain Migros for £30m. It may also sell Dobbies, its chain of garden centres.

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