FTSE 100 falls on job figures
Wednesday 18th March 2009, 5:15PM GMT.
The FTSE 100 tumbled 1.35 per cent following unemployment figures released today after the sharp rise in job losses dampened confidence.
Closing at 3,804.99, the benchmark index lost 52 points over the session.
Ryan Kneale, market analyst at BetsForTraders.com, said: “The UK unemployment figures made for some seriously grim reading this morning, with the number of unemployed growing at an alarming pace during February and tipping over the two million barrier for the first time in 12 years.”
Rio Tinto led the fall, with a 6.71 per cent fall, after the mining firm faces opposition over its deal with Chinalco.
Rival miner Randgold Resources also fell on the index, and was down 5.36 per cent by the end of the day.
Insurer Friends Provident also slipped, falling 6.65 per cent.
However, Barclays shares were up, rising 5.15 per cent to 96p, followed by Legal & General Group, which was up by 5.05 per cent.
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