Friday, September 30, 2011

FTSE 100 suffers worst quarter of trading in nine years as £212bn is wiped off Britain's top companies - 30th Sept 2011

London's stock market suffered its worst quarter of trading for nearly a decade as more than £212 billion was wiped off its value since July 1.

Fresh fears of another worldwide recession saw the FTSE 100 fall to 5128.5 today almost 1,000 points lower than its peak three months ago.

Today's drop means London's blue chip shares have fallen 13.7% in the third quarter of 2011 - its worst performance since 2002 when the dot-com boom ended.

World markets have been hugely volatile in recent weeks as investors panicked that the U.S. and eurozone would be unable to keep up with payments on their huge debts and would lead the world back into recession.

Today's falls were caused after a monthly survey by banking giant HSBC showed that China's manufacturing remained stagnant in September due to sluggish demand both at home and abroad. Read More