FTSE 2% down after Wall St slide

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A late slide on Wall Street overnight has punished the FTSE 100 in early trading, currently 124.30 points lower (2.15%) to 5652.10.

Building supplies group Wolseley is hit hardest, as the firm is heavily US-exposed. It is down 6.30% to 550. The London Stock Exchange Group is also among the leading losers this morning, thinning 5.59% to 1250. British Airways is taking a pounding from oil prices which are pushing $110 a barrel. The airline is down 5.15% to 230. Financials are at the forefront of the poor start, with insurer Royal & Sun Alliance leading the losses for the sector, down 4.71% to 123.30. Unilever and Scottish & Newcastle are the only stocks in the black so far, up 0.94% to 1615 and 0.13% 781.50 resp...

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