China caution drags miners and FTSE 100 down
China caution drags miners and FTSE 100 down
Wednesday 20th January 2010
Good news for the UK jobs market could not overcome uncertainty over bank lending in China as the FTSE 100 was dragged down in Wednesday trading.By close of trading the leading share index was down 1.67 per cent, or 93.24 points, at 5,420.80.
The market was in the doldrums all day, despite the total number of unemployed falling by 7,000 between September and November according to official figures, due to inclinations from China that banks were being instructed to rein in lending.
This had a knock-on effect on commodity prices as a result, with Xstrata, Lonmin and Eurasian all slipping by more than six per cent on the FTSE.
Antofagasta, Kazakhmys, Anglo American, Rio Tinto, Vedanta Resources, Randgold Resources, Fresnillo and BHP Billiton were down between 3.89 per cent and 5.97 per cent.
British Airways was among the gainers, rising 1.2 per cent on the news that threatened cabin crew strike action would no longer go ahead over Easter.
Related News
UK unemployment rate falls marginally - 20/01/10
The number of people unemployed in the UK fell by 7,000 from September to November, the first quarterly fall since May 2008
The number of people unemployed in the UK fell by 7,000 from September to November, the first quarterly fall since May 2008
King calls on govt to cut public deficit - 20/01/10
Mervyn King, the governor of the Bank of England, has once again warned the government it must cut the public deficit
Mervyn King, the governor of the Bank of England, has once again warned the government it must cut the public deficit
FTSE 100 down despite jobs market boost - 20/01/10
The FTSE 100 started the day slightly down on Wednesday, despite the news unemployment in Britain slipped slightly between September and November last year
The FTSE 100 started the day slightly down on Wednesday, despite the news unemployment in Britain slipped slightly between September and November last year
Row between Google and China deepens - 20/01/10
Google has delayed the launch of two mobile phones in China as the dispute over government censorship continues to rumble on
Google has delayed the launch of two mobile phones in China as the dispute over government censorship continues to rumble on
Burberry drives FTSE 100 forward - 19/01/10
The FTSE 100 has continued its positive start to the week, ending the day up 0
The FTSE 100 has continued its positive start to the week, ending the day up 0
News Article Search
Quick Apply
News Archive