Aug 29, 2017

FTSE 100 slides as traders resume work

London's leading shares tumbled in Tuesday morning trading as the City returned to work after the long Bank Holiday weekend. By lunchtime, the benchmark FTSE 100 index was down by 84.62 points or 1.14% at 7,316.84. Supermarket Morrisons led the downward trend, shedding 3.1%, while broadcaster ITV fell 2.6%. At the other end of the scale, mining stocks were buoyant. Randgold Resources was up 3.6%, while Fresnillo rose 2.5%. Shares in troubled doorstep lender Provident Financial looked set for losses after a three-session winning streak, falling 1.2%. The firm had been on an upward trajectory, posting daily double-digit rises since its 66% plunge on Tuesday last week. On the currency markets, the pound was up 0.18% against the dollar at $1.2955, but down 0.32% against the euro at 1.0760 euros.

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