FTSE 100 drops over 1%

Thursday, 22 October 2009 08:57

The FTSE 100 dropped over one per cent this morning as miners and insurers took a hit and gains were low on the ground.

At 08:33 BST, the index of leading shares was down 1.07 per cent - or 56.11 points - to 5,201.74.

The falls followed a late sell-off in the last hour of trading last night in the US as the Dow fell 0.92 per cent and the S&P 500 lost 0.89 per cent.

In Europe, this morning the Dax lost 1.48 per cent and the Cac 40 lost 1.32 per cent.

Traders were again concerned about the strength of recovery - as oil price rises threatened a new brake.

In London, the only rising stock of note was Experian - climbing 1.77 per cent as Goldman Sachs upgraded the firm to buy from neutral.

Bunzl gained 0.38 per cent and Cable & wireless rose 0.21 per cent.

Silver miner Fresnillo was down 4.46 per cent, while cruise operator Carnival lost 3.58 per cent.

Old Mutual lost 3.42 per cent, Xstrata dropped 2.82 per cent and Prudential was down 2.81 per cent.

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