The FTSE 100 index is already down 57.7 points or 1% to 5733.3 points this morning, paced by HSBC Holdings and GlaxoSmithKline.
HSBC has fallen 11.5p or 1.2% to 932.5p and Glaxo has declined 20p, or 1.3% to 1,485p. BP has dropped 8.5p or 1.3% to 633.5p and BG has lost 17p or 2.4% to 707.5p after UBS AG lowered its share-price estimates for the energy producers. Rio Tinto Group has also lost 54p or 1.8% to £29.74 on news the company may be considering buying aluminum producer Alcan. Meanwhile, telecom stocks are being led higher by Vodafone after it increased 2p or 1.7% to 121.75p on news it will increase dividends and return £9bn to shareholders. BAA has surged 56p or 6.8% to 876.5p after it rejected a £9.73...
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