FTSE takes a battering on economic fears

The FTSE plummeted 2.17% to close down at 5,139.31. Claimant figures in the US sparked the late afternoon sell-off. Jobless claims hit 480,000 last week, according to figures from the US Labor Department, the highest since 12 December and worse than expected. The news smashed a London market already under pressure from the weakness of banks and miners, with dollar strength punishing metals prices leading mining share investors heading for the exits. Antofagasta, down 7.3% to 830.00p a share, ENRC, down 7.14% to 885.00p a share, and Xstrata, down 5.96% to 1002.00p a share were the w...