FTSE 100 down over one per cent

Thursday 5th November 2009

The FTSE 100 was down over one per cent in early trading on Thursday.

The index had fallen by 1.25 per cent by 08:50 GMT to 5,043.80.

Yesterday's rally came to a halt this morning, after a strong start on Wall Street faltered and Asian markets weakened overnight.

The fall was led by engineering firm Invensys, which fell by 8.32 per cent, while Cable & Wireless, which has announced a plan to split, dropped by 6.49 per cent.

Vedanta led miners lower, falling by 5.02 per cent, after blaming a drop in earnings on weaker metals prices.

Lonmin was down by 4.31 per cent, while Xstrata fell by 3.61 per cent.

Retailers avoided falling into the red, with Marks & Spencer up 1.13 per cent on the back of yesterday's gains, followed by Tesco, up 0.4 per cent.

Investors are awaiting the Bank of England's decision on interest rates and quantitative easing, expected at noon. ADNFCR-1783-ID-19444225-ADNFCR

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