FTSE 100 falls in early trade

Wednesday 19th August 2009

The FTSE 100 fell 1.02 per cent in early trade to 4,632.22 by 09:00 BST.

After a month-long rally, the index appears to have hit the buffers and has been sliding over the last week.

A mixture of financial and mining stocks were in the red, with Man Group down 3.35 per cent, Lonmin down by 2.74 per cent and HSBC down by 2.73 per cent.

Few stocks were rising on the index, with Eurasian Natural Resources the exception.

The mining firm shot to the top of the list of gainers, rising 6.76 per cent after posting a smaller-than-expected drop in first half earnings.

Over in the US, the markets closed slightly higher last night, with the Dow Jones up by 0.9 per cent and the S&P 500 up by 1.01 per cent.

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