The FTSE 100 Index closed 55.9 points lower at 5,566.9 today as a raft of economic data from the US and China fuelled fears over the global economic recovery and hit confidence on the London market.
Mining and commodity stocks were the biggest Footsie fallers amid fears that the latest decline in China’s factory output meant further strain on global demand.
Vedanta Resources dropped 48p to £9.30, Anglo American fell £1.14 to £21.01, Kazakhmys was down 31.5p at £7.24 and Antofagasta was off 42p at £10.80.
Heavyweight stock BP was impacted by the latest fall in oil prices to stand 13.6p lower at 411.1p.
British Airways and Iberia firm International Airlines Group was one of the biggest top flight risers after it increased its target for annual revenue and cost efficiencies by £81million to £403million from 2015. The update to shareholders at its AGM in Madrid caused its shares to rise 1.8p to 160.1p.
Household goods group Reckitt Benckiser rose 52p to £34.19 as sentiment recovered following Procter and Gamble’s profits warning yesterday, while Unilever was 18p higher at £20.80.
Other big Footsie risers included Compass Group ahead 8p at 660.5p and Sage Group up 2.7p at 270.2p.
Outside the top flight, engineering group Invensys was 14%, or 37p lower at £2.20 after it said it was no longer in takeover discussions with US-based controls firm Emerson Electric.
Transport group Go-Ahead was nearly 2% lower, off 23p at £11.96 after it said profits at its rail division were likely to be under pressure next year due to economic conditions.
Currys and PC World parent Dixons Retail Group was 7% higher in the second tier, up 1.2p to 17.2p, after it reported a resilient performance in its UK arm.
Elaine McLachlan, of investment manager and financial planning specialist Brewin Dolphin in Inverness, noted Johnston Press gaining 3.5% to 5.3p, Optos up 2.7% at 189.5p and Quayle Munro rising 2.7% to £4.75 as well as Enquest off 3.8% at 111.3p and Cairn Energy 3.2% lower at £2.60.
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