MARKETS: FTSE falls

Only a handful of companies made gains today in the UK’s share index, after concerns over China’s crumbling markets took hold.

The FTSE shrugged off a rate cut from the People’s Bank of China to close down 1.69% to 5,978.50.

The drop made made yesterday’s first rise in 11 sessions look increasingly like a dead cat bounce.

Worst hit were the miners, on concerns profits will be hit by falling commodities prices.

Rangold Resources fell 6.57% while Fresnillo plunged 4.17%

Here’s the chart:

The other European markets were also down today. The DAX fell 1.26% while the Euro Stoxx 50 was down 1.42%

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