Signs that banks in the US may soon start charging businesses more to borrow money as the Federal Reserve staves off inflation hurt stock markets around Europe today, sending the FTSE 100 down 29.10 points to 4,539.90 by the close.
Reuters led the route, which ended five days of gains in London, by shedding 24.5p to 390.5p on news its core revenues fell again in the latest reporting period.
Mining stocks got sold down, even as Australian-based firms agreed record prices for delivery of thermal coal to the important Japanese market.
Antofagasta dropped 57p to 978p, Anglo American shed 63p to 1,229p, and Xstrata fell 28p to 666.5p.
Rio Tinto fell 58p to 1,283p after announcing poor weather, including a hurricane forced output of iron ore to fall.
Unilever had a good day, closing up 15p at 568.5p after analysts at ABN Amro said the company would benefit from consolidation in Europe’s dairy industry.
Mid-cap shares fell, sending the FTSE 250 index down 49.5 points to 6,295.5.
Premier Oil fell 49p to 523.5p after abandoning an oil well in Africa.
WH Smith continued its climb on talks with buyout firm Permira, adding 10p to 355p.
In the US, some shares have recovered from yesterday’s drubbing sparked by Greenspan’s comments on interest rates.
The Dow Jones Industrial Average is down about 4 points to 10,309, but the broader S&P 500 index is up about 4 points to 1,122.IFAonline
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