Markets: FTSE 100 slides further

• FTSE 100 down 1.2% to 6,463
• Gold up 0.54% to $1,363.78/oz
• £/$ 1.2931

Supermarkets were among the biggest losers. Tesco led the index down with an 8.1% fall, while Wm Morrison lost 7.2% and Sainsbury's was 3.7% lower. Banks and housebuilders were again under fire Lloyds and RBS lost 6.8% and 6.1%, while Barratt Developments, Taylor Wimpey and Persimmon fell between 5.1% and 3.2%.

In Europe, the Paris CAC 40 fell 1.9% to 4,085 and the German Xetra Dax lost 1.7% to 9,373.

In the US, the Dow Jones Industrial Average rose 0.4% to 17,918, the S&P 500 added 0.5% to 2,099, and the Nasdaq Composite was 0.8% higher at 4,859.

MoneyWeek

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

Get 6 issues 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

Sign up

Overnight in Japan, the Nikkei 225 fell 0.7% to 15,276 and the broader Topix index lost 0.7% to 1,226. And in China, the CSI 300 slipped 0.2% to 3,209 and the Shanghai Composite was flat at 3,016.

Brent spot was trading at $49.07 early today, and in New York, crude oil was at $47.75. Spot gold was trading at $1,367 an ounce, silver was at $20.07 and platinum was at $1,082.

In the forex markets this morning, sterling was trading against the US dollar at 1.2958 and against the euro at 1.1704. The dollar was trading at 0.9032 against the euro and 100.99 against the Japanese yen.

And in the UK, Marks & Spencer reported a disappointing set of quarterly results. Like-for-like UK sales in the 13 weeks to 2 July fell by 4.3%, with non-food sales down by 8.9%, and food sales down by 0.9%.