Morning markets: Fresh woes hit Asian and European trading

5th September 2011

"The FTSE All-World equity index is down 1.3 per cent, following a rotten session in Asia and a rough start for Europe. There is broad softness in commodities, where copper is off 1 per cent to $4.07 a pound and Brent crude is lower by 1.3 per cent to $110.85 a barrel. Gold is little changed at $1,884 an ounce.

The start of the week's trading followed negative jobs data from the US on Friday.

In London, the FTSE 100 was down 1.7 per cent by mid morning at 5,204.39. Grim PMI data in Europe left the FTSE Eurofirst 300 down 2.2 per cent at 927.44.

Banking stocks took the worst of the fall following Friday's news that they could be sued by a US regulator over alleged mis-selling of sub-prime mortgages.

 

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