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FTSE drifts lower on economy worries | FTSE drifts lower on economy worries |
(about 3 hours later) | |
(Midday): Uncertainty over the health of the global economy triggered a poor morning session for the FTSE 100. | |
The UK's main share index was down 15.9 points at 6638.3, following falls on Asian stock markets. | |
Arm Holdings was among the FTSE 100's biggest risers, up 2%, while Anglo American rose 2.5%. | |
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 0.15% 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. |