FTSE 100 slides on opening

FTSE 100 falls on opening after job figures yesterday

FTSE 100 slides 1.02%

British Land led the FTSE 100 down 1.02 per cent in early trade to 4,632.22 by 09:00 BST, as the index continued to be hit by volatility.
FTSE 100 slides 2.75%

The FTSE 100 slumped 2.75 per cent to close at 4,345.47 after Standard & Poor's downgraded the outlook for the UK from 'stable' to 'negative'.

The FTSE 100 opened higher but quickly fell back into the red after yesterday's news of more job losses shook investor confidence.

The index opened at 3,812.02 but by 08:30 GMT had slid to 3,803.00, just under last night's closing price.

However, several stocks were rising, which may help boost the overall index in morning trading.

Randgold Resources was up 12.03 per cent, while Prudential jumped 11.12 per cent and FirstGroup was up 7.77 per cent.

Meanwhile, HSBC shares were 3.15 per cent lower and British Land fell 2.78 per cent.

Over in the US, markets jumped after the Federal Reserve said it would buy treasury bills in a bid to kick-start lending.

The Dow Jones closed 1.23 per cent higher, while the S&P 500 rose 2.09 per cent.

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