FTSE Drops as China Weak PMI Hit Miners

Overall though the FTSE 100 has fallen 30.05 points to 6666.55, with the US Federal Reserve minutes providing little impetus and a weak French purchasing managers report and data from China showing growth in the country’s manufacturing sector had stalled this month.

So with metal prices weak, Rio Tinto is down 70.5p at 2871.5p, Anglo American has lost 32p to 1290.5p and BHP Billiton has fallen 36.5p to 1588.5p.

A number of companies have seen their shares quoted without the right to the latest dividend, with National Grid down 20p at 940.5p and J. Sainsbury 4.5p lower at 258.1p.

Following Wednesday’s falls following a vote by MPs to effectively end the beer tie, pub groups are putting in a mixed performance. Enterprise Inns is down another 1.3p to 101.3p and Mitchells & Butlers has fallen 4.6p to 362.8p but Greene King has recovered 11.5p to 762p.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza