FTSE 100 continues slide

Tuesday 18th November 2008, 9:46AM GMT.

FTSE 100 continues slide The FTSE 100 plunged again after opening and was over one per cent lower by 09:00 GMT as investors continue to lose confidence over the economy.

The index was hovering above the 4,000 mark in early trading, as commodities and banks dropped.

Xstrata fell 7.87 per cent, Lonmin was down 7.32 per cent and Wood Group was 6.4 per cent lower by 09:00 GMT.

Utilities, however, rose this morning as investors looking for returns through the recession snapped up shares in Centrica, which was up 0.83 per cent, Severn Trent rose 0.47 per cent and National Grid rose 0.28 per cent.

Markets around the world have fallen, with the Dow Jones closing 2.63 per cent lower and Japan’s Nikkei down 2.28 per cent down following yesterday’s news the economy has fallen into recession.

Today, investors will be waiting for inflation figures, due out at 09:30 GMT, with falls expected – which should allow the Bank of England to drop interest rates further next month.