Markets: FTSE 100 slides further

The FTSE 100 continued to slide yesterday, falling a further 2.5% to close at 5,982.

  • FTSE 100 down 2.5% to 5,982
  • Gold up 0.7% to $1,324.60/oz
  • £/$ 1.3225

Housebuilders were once again among the day's biggest losers. Barratt Developments lost 19.3% and Taylor Wimpey fell 14.8%, while builder's merchant Travis Perkins slid 16.5%.

Gold miners Randgold Resources and Fresnillo were again the day's highest climbers, up 8.7% and 7% respectively.

In Europe, the Paris CAC 40 fell 1.9% to 4,030 and the German Xetra Dax slid 3% to 9,268.

In the US yesterday, the Dow Jones Industrial Average fell 1.5% to 17,140, the S&P 500 lost 31.8% to 2,000, and the Nasdaq Composite was 2.4% lower at 4,594.

Overnight in Japan, the Nikkei 225 rose 0.1% to 15,323 and the broader Topix index slipped 0.1% to 1,224. And in China, the CSI 300 gained 0.5% to 3,136 and the Shanghai Composite added 0.6% to 2,912.

Brent spot was trading at $48.04 early today, and in New York, crude oil was at $47.28. Spot gold was trading at $1,314 an ounce, silver was at $17.63 and platinum was at $979.

In the forex markets this morning, sterling was trading against the US dollar at 1.3351 and against the euro at 1.2058. The dollar was trading at 0.9031 against the euro and 102.23 against the Japanese yen.

And in the UK today, housebuilder Redrow said profits would be ahead of market expectations this year, with full-year pre-tax profits above the top estimate of £240m. Shrugging off suggestions that the EU referendum had dented sales, the company said that the "chronic shortage of housing leaves market fundamentals unchanged".

Recommended

Julian Brigden: markets are at a huge inflexion point
Investment strategy

Julian Brigden: markets are at a huge inflexion point

Merryn talks to Julian Brigden of Macro Intelligence 2 Partners about the unwinding of the US stockmarket's super-bubble, and the risks and opportunit…
25 Jan 2022
Has growth investing had its day? Don’t be so sure
Growth investing

Has growth investing had its day? Don’t be so sure

Markets – and “jam tomorrow” growth stocks in particular – continue to crash, with some analysts forecasting a 50% drop or more. But, says Max King, a…
25 Jan 2022
Tech stock carnage: do you think Apple, Amazon and Alphabet will save you? Think again
Tech stocks

Tech stock carnage: do you think Apple, Amazon and Alphabet will save you? Think again

As tech stocks continued to slide, there is a view that you can escape all the carnage by holding really high quality profitable stocks. That view is …
24 Jan 2022
Which assets will benefit as the “jam tomorrow” bubble pops?
Investment strategy

Which assets will benefit as the “jam tomorrow” bubble pops?

With tech stocks, cryptocurrencies and many other “long duration” investments crashing hard, the “jam tomorrow” bubble looks to be bursting. John Step…
24 Jan 2022

Most Popular

Shareholder capitalism: why we must return power to listed companies’ ultimate owners
Investment strategy

Shareholder capitalism: why we must return power to listed companies’ ultimate owners

Under our system of shareholder capitalism it's not fund managers, it‘s the individual investors – the company's ultimate owners – who should be telli…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Ask for a pay rise – everyone else is
Inflation

Ask for a pay rise – everyone else is

As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why yo…
17 Jan 2022