FTSE dips on China data and Moody’s France warning

The FTSE 100 is 1.3% lower after slowing Chinese GDP data and a Moody’s warning over France’s AAA-rating weighed on sentiment.

The blue chip index was down 72 points to 5,364 shortly after the open, with mining and resource stocks among the worst affected after Chinese Q3 GDP came in slightly lower than expected at 9.1%.

Xstrata was down 3.9% to 912p, Rio Tinto was also down 3.9% at £31.72, while Antofagasta and Vedanta Resources fell by more than 3%. The index's largest faller was Asia-focused bank Standard Chartered, which slipped 4.4%.

Stocks were also under pressure on the Continent after ratings agency Moody's warned it may place a negative outlook on France's AAA-rating over the next three months. France's Cac 40 was down 2.2% to 3,096 in early trading, with Germany's Dax falling 1.8% to 5,751.

Asian markets were also down overnight, Japan's Nikkei closing 1.6% lower at 8,742, and Hong Kong's Hang Seng standing down some 4.7% at 17,985, reflecting uncertainty over the Chinese data.

Investors will now be hoping for signs of strength from the latest round in the Q3 reporting season in the US, with Apple, Bank of America and Goldman Sachs among those due to report today.