FTSE 100 down following losses in Asia and US

The leading share index was firmly lower this morning, consolidating losses in the US and Asia as investors worried about global growth amid signs that Spain’s economy is worsening.

Miners and insurers dragged the index down.

CPP Group was a loser once again, shedding 7.14 per cent in early deals. Fellow insurer RSA Insurance lost 3.71 per cent.

Miners Aquarius Platinum, Ferrexpo and Talvivaara declined 5.75 per cent, 5.2 per cent and 3.88 per cent this morning, in line with falling metal prices.

Nat Rothschild’s Bumi dropped more than six per cent, as its Indonesian unit announced it would act swiftly to resolve matters regarding the financial probe.

Elsewhere, waste disposal firm Shanks Group headed up the loserboard as it warned that profit for the year would fall short of analysts’ expectations.

At the other end of the spectrum, property investment company TR Property gained 9.53 per cent.

Consumer and motor finance provider S&U jumped 3.61 per cent in early trading on news that half-year revenue and profit were up.

XP Power, which provides power supplies, was up 3.38 per cent.

Oil and gas companies Ruspetro and Hardy Oil were up 3.29 per cent and 2.81 per cent.

UK financial shares had a tough morning. HSBC was down 1.04 per cent, RBS declined 3.22 per cent, Barclays fell 2.62 per cent and Lloyds Banking Group dropped 0.78 per cent.

In Asia, the Nikkei sank to close 2.03 per cent down, while in the US the Dow Jones closed 0.75 per cent lower.