The FTSE plummeted over 1% in early trading, dropping to 4,187 points by 8.43 this morning.
The movements were driven by commodity-related firms, with Rio Tinto down 61p (just over 3%) to 1,965p off the news it has agreed to sell its Alcan Food Americas division for $1.2bn (£739.3m) to US firm Bemis, towards paying off further debt, following its recent $15.2bn rights issue. Meanwhile, Tullow Oil and Xstrata join the commodity firms struggling, down 29.50p (3.23%) to 883p and 17.20p (2.63%) to 637.60, respectively. The latter's falls in particular could be attributed to South Africa's latest declaration, supporting Anglo American's rejection last month of the merger proposal...
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