The FTSE 100 is fighting back from a sluggish start this morning, with the mining and resources sector again leading the way. The blue-chip index is currently 3.50 points lower (0.06%) to 5912.40.
A strong performance yesterday has impacted the London Stock Exchange this morning; it is down 2.85% to 1295 so far.
Home improvement and retail group Kingfisher is also lower, down 2.7% to 140.70, while Legal & General is down on a poor start for financials, currently 2.43% lower to 132.70.
BG Group is leading the way on a strong day for the resources sector, up 2.84% to 1157, while Xstrata is the pick of a host of pure miners, up 2.56% to 3686.
Water group Severn Trent has bounced back for a disappointing day yesterday to be up 2.62% to 1451.
In New York, Federal Reserve chairman Ben Bernanke’s economic outlook speech sparked fresh recession fears which damaged investor confidence on Wednesday. The Dow Jones IA finished lower on a fairly volatile day, down 48.53 points (0.38%) to 12605.83.
Pharmaceutical giant Merck led the losses for the second time in a few days, down 3.18% to 37.10.
AT&T also declined on news it will offload one of its satellite television services, 1.93% lower to 38.72. Mining equipment company Caterpillar lost ground after purchasing machine group Lovat, down 1.84% to 78.51.
General Motors was the best of the bunch despite poor US sales figures, up 4.07% to 20.97. Chemical company DuPont climbed on a good day for the agricultural sector, up 2.28% to 48.84.
In Tokyo, rising commodity prices drove the Nikkei 225 up despite a poor day for many exporters. The index climbed 200.54 yen (1.52%) to 13,389.90.
Hong Kong’s Hang Seng index jumped 392.20 points (1.64%) to 24,264.63, while Sydney’s S&P/ASX 200 was up 106 points (1.93%) to 5,608.90.
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