The FTSE continues to fall, weighed down by fears over the global economic recovery and a massive sell-off in BP shares.
At 10.08 am BST, the index was down 2.23% or 115.95 points to 5,072.48 as slowing Chinese factory output fuelled pessimism over global economic recovery. The European Central Bank also added to the gloom as it warned eurozone lenders face another wave of potential writedowns. BP sank 12.42% to 433.35p after its latest failure to control its oil spill in the Gulf of Mexico. Royal Dutch Shell was also a big loser, its A shares down 2.03% to £17.86, while the B shares dropped 1.91% to £17.18. Prudential was the day's biggest winner on news its attempts to renegotiate the AIA hav...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
