FTSE falls on Fed rate cut rumour

Concerns about the state of the US economy were heightened on Monday following the release of the latest data for industrial production, which fell 0.6% in November. All three major US indices - the Dow Jones, S&P 500 and Nasdaq - closed down yesterday. In London, this morning's biggest movers included Tullow Oil, which climbed over 6% in value on the back of successful exploration in Uganda. However, shares in fellow miner Rio Tinto fell 5% as metal prices decreased. The biggest loser was private equity firm 3i Group, which fell over 8% based on unconfirmed reports that it plans to sel...