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MARKETS: FTSE falls

Ben Moshinsky   

MARKETS: FTSE falls
Finance2 min read

jump fall diving board pool

REUTERS/Sheng Li

A winter swimmer gestures as he jumps into the icy water of partially frozen Songhua River in Harbin, Heilongjiang province December 28, 2013. The temperature in Harbin on Saturday reached as low as minus 21 degrees Celsius (minus 5.8 degrees Fahrenheit).

Only a handful of companies made gains today in the UK's share index, after concerns over China's crumbling markets took hold.

The FTSE shrugged off a rate cut from the People's Bank of China to close down 1.69% to 5,978.50.

The drop made made yesterday's first rise in 11 sessions look increasingly like a dead cat bounce.

Worst hit were the miners, on concerns profits will be hit by falling commodities prices.

Rangold Resources fell 6.57% while Fresnillo plunged 4.17%

Here's the chart:

FTSE Aug 26

Investing.com

The other European markets were also down today. The DAX fell 1.26% while the Euro Stoxx 50 was down 1.42%

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