FTSE falters over growing concerns for global growth

<p>- The FTSE is currently trading down 0.2% at 5763 this morning. The index ended last week in negative territory after three straight weeks of […]</p>

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- The FTSE is currently trading down 0.2% at 5763 this morning. The index ended last week in negative territory after three straight weeks of gains.

- Concerns about global growth are putting pressure on the markets after the Japanese government reduced its view on personal consumption/exports/ imports and industrial output, forecasting a contraction of between 0.3-0.9 for the third quarter GDP.

- Spain also reported negative GDP of 1.3% annual rate in the second quarter, as compared to estimates of 1%.

- On the FTSE, miners were out of favour as Morgan Stanley reduced its target price on ENRC, Kazakhmys, Vedanta Resources and BHP Billiton.

- Kingfisher was the top faller on the FTSE today, dropping 3.4% after being downgraded by Bank America Merrill Lynch.

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