FTSE slips as banks fall
Fiona Cincotta June 16, 2011 5:34 PM
<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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