FTSE 100 dips 2.61%
Monday 15th June 2009, 5:33PM BST.
The FTSE 100 slumped 2.61 per cent to 4,326.01 after oil prices reversed and headed down from recent highs.
By late-morning trading in London, US crude was priced at $71.07 a barrel, over a dollar lower than last Thursday’s eight-month high of $72.68.
Mining and energy firms weighed on the index, with Lonmin down by 9.85 per cent, Fresnillo down by 7.41 per cent and Vedanta Resources seven per cent lower.
Few shares ended the session out of the red, but Lloyds Banking Group was up by 2.3 per cent and AstraZeneca gained 0.8 per cent on the UK’s leading shares index.
US stocks also slid as commodities tumbled across the Atlantic, and the Dow Jones was down by 2.32 per cent in morning trading, while the S&P 500 was off by 2.46 per cent.
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