10/10/14 Market Movements

Market News

The FTSE100 sunk to its lowest level for 12 months, tracking U.S. stocks lower as concerns over the outlook for global growth sent shudders through stock markets around the world.

Cyclical sectors such as mining and energy, which are relatively sensitive to economic optimism, took the most points off the FTSE 100 as commodity prices fell, with the price of Brent crude oil at its lowest since 2010.

The FTSE100 closed down 91.88 points at 6,339.97 as Irish Oil Company, Tullow Oil, took the biggest percentage hit after closing down 7.88%.