London’s FTSE 100 Index closed in the red again today as world markets continued to suffer amid fears over Spain and the eurozone.
A warning on Germany’s financial health from ratings agency Moody’s last night added to investor nervousness, while Spain also edged closer to a full-blown bail out as its borrowing costs soared.
The Footsie closed 34.6 points lower at 5,499.2 following yesterday’s 2% plunge, which wiped £30billion from its value.
Miners and financial stocks suffered amid the ongoing weak sentiment and following reports that banks would reveal additional charges for mis-selling payment protection insurance.
Royal Bank of Scotland was 1.3p lower at 196.6p, while Lloyds Banking Group dropped 0.5p to 28.8p. Insurers also suffered, with Aviva falling 5.4p to 269.8p and Admiral losing 21p to £11.29.
Chemical manufacturer Croda International shot to the top of the FTSE 100 Index after it revealed a 6% increase in profits in the first half of the year. Shares were 6% or 135p higher at £23.64.
Outside the top flight, Carpetright saw shares slide despite an encouraging update which showed growth in UK like-for-like sales of 1.7% for the 12 weeks to July 21. Shares fell 2.5p to 612.5p.
The biggest Footsie risers included Aggreko ahead 53p at £19.59, Antofagasta up 18p at £10.45 and G4S ahead 2.9p at 244.5p.
Among the biggest Footsie fallers were Glencore International down 7.2p at 301.7p, ITV off 1.6p to 70.4p, International Consolidated Airlines Group down 3.2p to 145.4p and Resolution down 4.4p to 205p.
Barry Shepherd, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that the day’s fallers included Royal Dutch Shell, off 0.66% at 2,248.5p, BG Group shed 1.36% at £12.36 and Stagecoach closed 2.71% lower at 276.2p.
Risers included Wood Group, up 1.1% at 736.75p, Aberdeen Asset Management added 1.18% at 247.7p and Xcite Energy finished 2.74% higher at 75.125p.
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