Footsie down again amid global sell-off

Market report Perry Gourley

The Footsie fell to its lowest level since the end of September as a global sell-off and the impact on commodity stocks of concerns over slower Chinese growth took their toll.

The index fell by 41.81 points to close at 7,372.61 points as markets across Europe and the US fell.

Connor Campbell of Spreadex said the markets generally “looked pretty bloody” with the euro once again the only real winner.

“With US investors already fretting about the Republican tax reforms – namely the party’s ability to push them through after they failed so spectacularly on healthcare – a weak pair of inflation and retail sales readings didn’t really do much to help matters,” he said.

Weaker-than-expected Chinese industrial data hit commodities stocks on the FTSE 100 with the likes of Glencore down 4.85p to 349.9p. Shares in Talktalk slumped after the telecoms group dived to a half-year loss and warned over profits as it took a hit from efforts to secure more customers. The FTSE 250 firm fell by 11.3p to close at 178.2p.

Ambrosia custard and Bisto gravy maker Premier Foods hasnarroweditslossesaftersecuring a hefty jump in sales from its international business. Shares closed up 6.2 per cent, or 2.25p at 38.75p.

The success of gaming gadget the Nintendo Switch has helped boost recent sales figures at retailer Game Digital but it was not enough to offset a dismal first half for the group, which saw it swing to a £10 million annual loss from profits of £1.1m on a comparable 52-week basis. Shares in the high street chain fell by 1.62p to close at 38.5p. The industrial belts manufacturer reported significantly improved results with underlying profits almost doubling. The telecoms group saw its shares fall after diving to a halfyear loss and warning over profits over efforts to secure more customers.