MARKET REPORT
THE FTSE 100 fell into the red yesterday as global equity markets stumbled and falling metal prices weighed on major mining stocks.
London’s blue chip index ended the day down 0.56% or 41.81 points at 7,372.61 points, with the likes of BHP Billiton down 21p at 1,366.5p, Glencore down 4.85p to 349.9p and Anglo American down 17.5p to 1,437.5p.
Across Europe, the French Cac 40 and German Dax fell 0.27% and 0.44% respectively.
Sterling was relatively flat against both the euro and US dollar, at 1.116 and 1.316 respectively.
UK data released yesterday showed that the number of people in work has fallen by 14,000, marking the biggest reduction in more than two years, while average earnings increased by 2.2% in the year to September, down by 0.1% on the previous month and by 0.3% on a year ago.
Employment was just over 32 million in the quarter to September after the largest three-monthly fall since April-June 2015.
The unemployment rate currently stands at 4.3%, according to the Office for National Statistics (ONS).
Brent crude prices jumped 0.9% to 62.10, recovering from an earlier decline sparked by Energy Information Administration data that showed a rise in US crude inventories.
In UK stocks, Premier Foods jumped 2.25p to 38.75p as the Ambrosia custard and Bisto gravy maker narrowed its half-year pre-tax loss to £1.2m from £8.7m a year earlier, after securing a hefty jump in sales from its international business.
TalkTalk shares tumbled 11.3p to 178.2p, making it the worst performer on the FTSE 250, after the telecoms group swung to a half-year loss of £75m and warned over profits as it took a hit from efforts to secure more customers.
Housebuilder Crest Nicholson fell 22.8p to 496.2p, while industry peer Barratt Developments dropped 7p to 622p despite both firms insisting that buyer demand was strong.
Game Digital fell 1.63p to 38.5p as the company reported a £10m annual loss compared with profits of £1.1m a year earlier, after a difficult first half.
The biggest risers on the FTSE 100 were Fresnillo up 42p to 1,325p, Bunzl up 31p to 2,146p, BT Group up 3.4p to 247.15p, and Barclays up 1.7p to 182.4p.
The biggest fallers on the FTSE 100 were NMC Health down 103p to 2,750p, 3I Group down 31.5p to 898.5p, Mondi down 55p to 1,721p, and WPP down 37p to 1,253p.