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UK: FTSE Stock Exchange Falls For Eighth Day

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Growing fears Wednesday that the world will slide back into recession have triggered London’s blue chip shares index’s longest losing streak for eight years.

The FTSE 100 Index fell 67 points to 5139.8, its eighth day of losses in a row, and its worst run since January 2003 when markets were gripped by recession fears after the dot-com bubble burst, dealers said.

Today’s fall came as data revealed that China’s manufacturing sector contracted in October, adding to fears that the eurozone will collapse under its debt mountain and politicians in the US will fail to reach agreement on a deficit reduction plan.

Banks were among the biggest fallers, with taxpayer-backed Royal Bank of Scotland down 6 percent to a fresh two-and-a-half-year low.

KUNA

KUNA is the Kuwait News Agency

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