Markets tumble as Russia detects missiles over Mediterranean; Vodafone slips 3% following Verizon sale

<p>After a positive start to trading this morning, the markets took a tumble at around quarter to 10 after it was announced that a Russian […]</p>

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After a positive start to trading this morning, the markets took a tumble at around quarter to 10 after it was announced that a Russian radar had detected two missiles in the east of the Mediterranean.

The Dow was trading around 14885 at 10am, whilst the FTSE dropped to 6455. British shares had been higher in early trading, boosted by a positive Construction PMI figure and strong Chinese data indicating better global growth.

Top risers were Tullow Oil and Associated British Foods.

Gains were limited, however, by losses in Vodafone as details of the sale of Verizon Wireless disappointed some analysts. They were down 3% by 11am (UK time).

It was also a disappointing session for Carnival and Standard Life.

On the currency markets, the pound rose 0.1% against the dollar and climbed 0.2% against the euro.

At 3pm we await the ISM manufacturing figure from the US, but all focus will no doubt turn to the conflict in Syria which could no doubt create a lot of volatility.

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