FTSE slips as banks fall

<p>The FTSE slipped sharply lower today as global recovery concerns sent commodity stocks lower and banks down, echoing losses in the US and Asia. Concerns […]</p>

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  • The FTSE slipped sharply lower today as global recovery concerns sent commodity stocks lower and banks down, echoing losses in the US and Asia.
  • Concerns mounted over Greece’s debt situation and the economic recovery in the US after data showed  a mix of higher prices and weaker growth.
  • Miners are the biggest fallers today, as worries grow over future demand for natural resources, with  China cooling growth and the US recovery hitting a soft patch.
  • Glencore was the top faller in the FTSE this morning, down 2.5% as MF Global places a ‘sell’ rating on the stock. it is now 11% below the float price and days away from the end of its stabilisation period.
  • In economic data, US housing starts will be announced at 1.30pm (UK time), followed by initial jobless claims.

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