Dow slumps on poor retail figures

The Dow Jones is trading in the red after lower-than-expected US retail sales figures weighed on investor sentiment.

As at 15.45 GMT, the index is down 0.49% or 59 points to 12,208, with Exxon Mobil and Intel racking up the biggest losses.

The Dow's negative showing comes after Commerce Department figures showed US retail sales rose in January by a disappointing 0.3% - short of the expected 0.6% increase as heavy snow dented hopes of a jump in sales. In addition, December's figure was revised down from 0.6% to 0.5%.

London's FTSE, meanwhile, is also languishing in negative territory following release of US retail sales figures. In afternoon trading, the blue-chip index is down 0.47%, or 28 points, to 6,031.

Mining stocks are dragging heavily on the FTSE, with Anglo American, Xstrata, Fresnillo and Rio Tinto all in the five biggest losers.

However, better-than-expected results from Barclays - which saw pre-tax profits jump almost a third last year - has boosted the banking sector, with Barclays, Lloyds and Royal Bank of Scotland all occupying the leaders' board. Barclays, up over 5%, is in pole position.

Meanwhile France's Cac 40, up 0.3%, and Germany's Dax, up 0.05%, seem unfazed by the poor US retail figures.