At the close: China concerns push FTSE 100 to finish down

 
James Nickerson
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The FTSE was pulled down on China slowdown fears (Source: Getty)

The FTSE 100 closed down for the third session in a row on Wednesday following data from China that showed deflationary pressures mounting.

The index was 1.15 per cent lower at the close, at 6,269.61 points.

Stocks with exposure to China fell, including Standard Chartered and luxury retailer Burberry Group, which ended the session 1.46 per cent and 0.77 per cent down respectively.

Read more: Asian markets rattled by mixed Chinese trade data as exports hold up but imports tumble

Weak data from China pulled the FTSE 100 down, as consumer inflation fell back and producer prices continued to deflate. The consumer price index fell from a 13 month high of two per cent in August to 1.6 per cent in September, missing economists' forecast.

The producer price index indicated deflation was reaching its fastest pace in six years, tumbling 5.9 per cent from where it stood a year ago. The data came the day after figures showed imports had fallen.

Housebuilders also came under pressure, with shares in Taylor Wimpey falling 3.42 per cent, Persimmon 3.1 per cent and Barratt Developments losing 3.79 per cent.

Read more: Hargreaves Lansdown share price rise as it issues record first quarter results

The biggest gainer was Hargreaves Lansdown, whose share price jumped as it announced record inflows for the first quarter and issued a bullish outlook for the financial year ahead, thanks to next spring's Lloyds Banking group share sell-off.

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