FTSE 100 down one per cent on Wednesday

Wednesday 27th January 2010

Slumps in the banking and mining sectors on Wednesday morning caused the FTSE 100 to drop almost one per cent in early trading.

At 09:04 GMT the London index stood at 5,227.15, a drop of 49.70 points, or 0.94 per cent.

Tullow Oil witnessed the biggest loses in the first hour of trading, dropping 5.43 per cent to 1,150p, with Xstrata also falling 4.11 per cent.

Banks also experienced a rough morning, with Barclays slumping 4.02 per cent, Royal Bank of Scotland Group 3.91 per cent and Lloyds Banking Group 2.96 per cent.

Leading the handful of stocks trading positively was Royal Dutch Shell, up 0.67 per cent to 1,799.11p.

Vodafone Group also recorded gains of 0.44 per cent to 135.44p. ADNFCR-1783-ID-19580241-ADNFCR

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