FTSE 100 lower after poor manufacturing results

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Source: Dukascopy Bank SA
UK FTSE 100 erased part of its previous gains and traded lower on Thursday as investors anticipated news from Federal Reserve, China and Eurozone manufacturing and service activity. Oil shares plunged as crude price fell below USD 81 a barrel. BP PLC tumbled 2.1% and Royal Dutch Shell shed 0.9%. Resource shares which heavily depend on manufacturing activity also slipped. Vedanta Resources dropped 1.6% and BHP Billiton PLC lost 1.3%. At the moment of writing FTSE 100 trades 0.4% or 20 points lower at 5,602.

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