Markets: FTSE 100 slides ahead of the weekend

FTSE 100 down 1.9% to 6,115
Gold up 0.35% to $1,274.24/oz
£/$ 1.4257

Financial stocks were among the day's performers. Standard Life led the index down with a 4.1% slump. Barclays lost 3.9%, Prudential fell 3.8% and Standard Chartered, Old Mutual and RBS lost between 3.7% and 3.5%.

In the US, the Dow Jones Industrial Average fell 0.7% to 17,865, the S&P 500 lost 0.9% to 2,096, and the Nasdaq Composite was 1.3% lower at 4,894.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Overnight in Japan, the Nikkei 225 and the broader Topix index each slid 3.5% to 16,019 and 1,284 respectively. Chinese markets remained closed for a public holiday.

Brent spot was trading at $50.13 early today, and in New York, crude oil was at $48.58. Spot gold was trading at $1,281 an ounce, silver was at $17.24 and platinum was at $991.

In the forex markets this morning, sterling was trading against the US dollar at 1.4187 and against the euro at 1.2591. The dollar was trading at 0.8875 against the euro and 106.10 against the Japanese yen.

And in the UK, Mike Ashley, the controversial founder of Sports Direct, has expressed an interest in buying the BHS name and some of its shops. "We have written to the administrator about saving a number of jobs and stores along with the BHS name", a spokesman for Sports Direct said.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.