The FTSE 100 suffered a 1.3% drop in early trading as growth concerns in the US led to renewed global jitters.
London's leading index of shares has fallen more than 66 points, or 1.33%, to 4,898 after a disappointing US services sector report heightened fears of a lackluster recovery in the world's largest economy. Consumer goods stocks are in sharp decline, with Burberry down 3.64%, M&S dropping 2.72% and Next dipping 2.12%. BP has opened slightly ahead once again, as it emerged the company is going to inform the US government of all major business deals a month in advance. The oil giant is 1.66% higher to 351p. Asian indices saw losses overnight, with Tokyo's Nikkei 225 down 0.63% to 9,27...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes