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Morning Markets: FTSE slips back below 5,000

Professional Adviser| 14 Sep 2009 | 11:12
Author: Simon Danaher

Categories: Economics / Markets

Tags:Dow jones| Ftse

The FTSE 100 has dropped back below the 5,000 mark as miners suffer from profit taking on fears the rally in metal prices may have gone too far.

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The London blue-chip index was down 46.13 points (0.92%) to 4,965.34 points by 10:30am.

Johnson Matthey has been the worst hit and is down 4.28% to £13.85, while Kazakhmys, Vedanta Resources and Eurasian Natural Resources are also all down by over 3%.

Meanwhile, Home Retail Group is currently leading the upside this morning with a gain of 0.82% bringing its shares to 295p each.

Shares in Cadbury are also strong as rumours of a higher takeover bid from US firm Kraft and interest from Hershey continue to support prices. The company's shares were up 0.52% to 779.50p.

In the US on Friday, the Dow Jones closed marginally down at 9,905.41 points having shed 0.23 points (-22.07%).

The wobble in the US was felt in Asia and consequently the Japanese Nikkei 225 closed 242.27 yen (-2.32%) down at 10,202.06 yen this morning.

 

Categories: Economics / Markets

Tags: Dow jones| Ftse

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