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UK shares dip after overnight losses in Asia
UK shares were once again lower this morning, extending yesterday’s sharp losses as falls in Asia overnight impacted confidence.
Following on from yesterday’s 1.5% drop, which left the FTSE 100 at 5,672 points, shares continued to slide marginally in the opening minutes of trading, with the index down 5 points at 5,667.
BP was the main culprit, its shares down 3% at 423p, while miners were also weaker.
Losses came after a tough session in Asia which saw major indices take a tumble.
The Nikkei 225 closed down 1.1% at 8,679.8, while the Hong Kong Hang Seng Index was 1.4% weaker at 19,160.9.
In the US markets also finished weaker, although they had climbed off lows.
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The Dow closed down 0.4% at 13,035.9 points, while the S&P 500 bounced back from lows to finish down just 0.1% at 1,404.
European shares had already endured a rough session yesterday, with major markets falling on growth fears, while the threat of a downgrade of Europe’s credit-rating by Moody’s also hit sentiment.
As a result the French CAC 40 closed down 1.6% at 3,399, while the German DAX was 1.2% weaker at 6,932.6.
European shares were marginally firmer today, with the CAC 40 and German Dax both up 0.2%.