FTSE 100 follows global peers into the red

The FTSE 100 finished in the red yesterday, following US and European markets lower as a cocktail of jitters weighed on investor sentiment.

As well as the Dow Jones beginning the day in negative territory, the critical EU summit, Italy’s budget crisis, falling oil prices and Brexit all played their part in spooking traders.

The FTSE 100 closed the day down 4.8 points, or 0.07%, at 7,054.6.

Among the fallers was Barratt Developments, which was impacted by a wider sell-off across the sector after a profit warning from rival Crest Nicholson spooked investors.

Oil prices took a tumble as fears over demand and rising inventories spooked investors.

A barrel of Brent crude

“A barrel of Brentcrudewas trading more than 2% lower”

was trading more than 2% lower at $79.8.

The pound also had a torrid time as a combination of Brexit and lower-than-expected inflation data conspired to see the British currency shed 0.3% versus the US dollar at 1.314.

Against the euro, sterling was down 0.1% at 1.138.

Figures from the Office for National Statistics showed the Consumer Prices Index (CPI) fell to 2.4% in September, compared with 2.7% in August.

This was the lowest level since June, when CPI was also 2.4%, and came as a surprise to economists who were expecting inflation to fall to 2.6%.

The biggest risers on the FTSE 100 were British American Tobacco up 107.5p at 3,284p, Rentokil up 9.3p at 314.7p, Segro up 17.2p at 627p and Pearson up 18p at 835.4p.

The biggest fallers on the FTSE 100 were EasyJet down 60p at 1,150.5p, Compass down 55p at 1,517p and WPP down 34.5p at 1,028.5p.