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

UK is not fully resistant to EU debt turmoil

George Osborne, The British Chancellor next week will submit an autumn report on the outlook of the UK economy. So far the UK managed to escape negative effects of Eurozone debt crisis. However, according to Osborne such situation will not last forever. Growth is smooth, unemployment is surging and exports are fluctuating. Moreover, budget deficit totals 10% of GDP. Osborne predicts that in nearest future

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