Weak Chinese data sees FTSE fall

<p>Losses have been made by all FTSE indices this morning (September 20th).</p>

The FTSE has made losses across the board this morning (September 20th) after the release of weak data from China.

HSBC's purchasing managers' index for August reveals that the manufacturing sector contracted during the month.

And investors have not responded positively to this news, as the FTSE 100 was down 36.66 points as of 10:37 BST, while the FTSE 250 dropped by 55.23 points.

The poor figures seem to have unnerved mining and metals companies, as the five biggest losers on the London Stock Exchange so far today – Evraz, Vedanta, Anglo American, BHP Billiton and Kazakhmys – are all from this sector.

Speaking to the Financial Times, Mike McCudden, head of derivatives at Interactive Investor, said the figures from China have "spoiled the party".

"Optimists may well be gambling on a turn in Chinese fortunes soon, but whatever they are up to behind the curtain doesn't appear to be working," he added.

Find the latest spread betting strategies for the FTSE 100 at City Index.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.