FTSE 100 hit by Chinese manufacturing news

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AP
FTSE 100 Index closed at 5,206.80 on Wednesday giving up around 0.3% or 15.80 points. On Wednesday morning index opened lower slipping 0.8% to 5,166.4 as China's preliminary manufacturing index dropped to 48, thus indicating contraction. Several UK mining stocks were highly exposed to Chinese report. Fresnillo PLC lost 2% while Rio Tinto PLC fell 2.3%. Stocks of Meggitt PLC declined 3.6% as UBS downgraded lowered company's adjusted earnings expectations.

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Wed, 23 Nov 2011 13:10:56 GMT

Euro-area industrial orders drop

Industrial orders for European region declined to a 3-year record low, led by France and Germany, indicating debt turmoil is negatively contributing to region's growth. According to EU statistics office, orders in Eurozone region decreased by 6.4% compared to August this year when they added 1.4%. Economists surveyed by Bloomberg had forecast a drop of 2.7%.

Wed, 23 Nov 2011 13:14:01 GMT

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