FTSE 100 drops on Egypt concerns

<p>Anglo American is down by more than five per cent.</p>

The FTSE 100 is down today (July 3rd) as a result of the ongoing concerns over the political instability of Egypt.

After president Mohammed Morsi refused to step down despite widespread protests, markets around the world have been affected.

The FTSE 100 is down by 1.24 per cent at 16:20 BST, but this represents a slight recovery from the midday break, when the index stood at 6,206.41, a drop of 1.6 per cent.

Domino's Pizza shares fell 6.6 per cent and among the other big fallers of the day was Anglo American, which was down by over five per cent, reports BBC News.

The largest gains on the index today have been seen with Tullow Oil, which saw its share price jump by over three per cent, a hike of 32 points for the day.

Oil prices have risen as a result of the ongoing turmoil in Egypt, which has seen thousands of people hold demonstrations in Cairo's Tahrir Square.

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