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FTSE drifts lower on economy worries FTSE drifts lower on economy worries
(about 3 hours later)
(Open): London's main share index drifted lower at the start of trading, after warnings about the health of the global economy. (Midday): Uncertainty over the health of the global economy triggered a poor morning session for the FTSE 100.
The FTSE 100 fell 16 points, or 0.24%, to 6638.5, while Europe's other leading indexes also opened down. The UK's main share index was down 15.9 points at 6638.3, following falls on Asian stock markets.
Arm Holdings was the FTSE 100's biggest riser, up 1.7%, followed by Anglo American, 1.4% ahead. Arm Holdings was among the FTSE 100's biggest risers, up 2%, while Anglo American rose 2.5%.
The biggest loser was Weir Group, down 2.4%. Supermarkets were also lower, with Tesco and Sainsbury each off 1.5%. A big faller was Weir Group, down 2.44%. Supermarkets were also lower, led by Sainsbury, down 2.1%.
On the currency markets, the pound fell 0.02% against the dollar to $1.5665, and slipped 0.03% against the euro to €1.25.On the currency markets, the pound fell 0.02% against the dollar to $1.5665, and slipped 0.03% against the euro to €1.25.
In Germany, the Dax index fell 0.33% to 9,222, while France's Cac 40 slid 0.78% to 4,169.6. In Germany, the Dax index fell 0.15% to 9,239, while France's Cac 40 slid 0.25% to 4,191.7.
Investors were nervous after Japan's economy sank back into recession, and UK prime minister David Cameron said there were warning signs that the global economy faced "instability and uncertainty".Investors were nervous after Japan's economy sank back into recession, and UK prime minister David Cameron said there were warning signs that the global economy faced "instability and uncertainty".
The news had earlier sparked a fall in Asian markets, with the benchmark Nikkei closing down almost 3% to 16,973.80.The news had earlier sparked a fall in Asian markets, with the benchmark Nikkei closing down almost 3% to 16,973.80.
It was the biggest one-day drop for the Nikkei since August.It was the biggest one-day drop for the Nikkei since August.