The FTSE 100 could not break into positive territory today after an early Wall Street slide compounded this morning's decline. The index closed the session 28.70 points (0.50%) lower to 5660.40.
Aviva led the losses on a poor day for itself and compatriot Standard Life, down 5.43% to 601.
Xstrata was able to make some ground back after a sharp morning fall, finishing 5.22% down to 3522, while Tate & Lyle started and closed down, 5.06% lower to 553.50.
Sainsbury’s was the best performer following its British Land announcement and a 4.1% Q4 like-for-like sales boost. It ended Wednesday up 6.39% to 358.
Despite the poor day for Xstrata, other miners were able to push ahead on strong commodity prices. Kazakhmys topped the sector, up 4.15% to 1606.
In New York, weak commerce reports are adding to investor nervousness this morning, with the Dow Jones IA currently 121.79 points (0.97%) down to 12410.81.
Financials are bearing the brunt of the early dip, with American Express 3.09% lower to 46.04 and JPMorgan Chase down 2.8% to 44.76.
The high commodity prices are driving up blue chip stocks, with Exxon Mobil 1.48% ahead to 86.46 and Alcoa 1% higher to 36.10.
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