FTSE Slips on North Korea Fears

A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New York U.S

Keeping up his tough talk, U.S. President Donald Trump told reporters that North Korean leader Kim Jong Un's government should "get their act together" or face the consequences, and suggested that his earlier threat to unleash "fire and fury" on North Korea was too mild.

"Another negative open, third on the trot, comes after a USA equity selloff, inspired by fresh Trump aggression towards North Korea, made for a weak session in Asia overnight", Michael van Dulken, head of research at Accendo Markets in London, said by e-mail.

On the London stock market, mining shares saw the biggest falls as many metal prices were hit by the geopolitical concerns.

The escalation of the rhetoric between the United States and North Korea is keeping market participants on their toes and with no fresh economic reports the price action is dictated by the headlines.

In the eurozone, the Paris CAC 40 dropped nearly 0.7 per cent to 5,081.92 points compared with the closing level on Thursday.

The Russian dollar-traded index RTS was down 1.49 percent, and ruble-traded MICEX fell 1.29 percent by midday.

The US Consumer Price Index (CPI) edged up 0.1% last month after staying flat in June and falling by 0.1% in May.

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In oil, the price of Brent crude sunk by 0.5% to 51.65 USA dollars a barrel amid concerns about over supply in the market.

Despite shedding 0.4pc this morning, the FTSE 100 is actually outperforming its European counterparts as investors move to safer assets.

Shares were down more than 3%, or 6.2p to 195.3p.

The group said it will pay £24 million for the stake in the firm, which will consist of 25 existing Domino's stores in the capital.

Mining heavyweights BHP Billiton and Rio Tinto retreated 2-3 percent, while gold miners Evolution and Newcrest rose about 2 percent each.

Housebuilders Persimmon and Barratt Developments were among the biggest gainers of the day, up 1.58% and 1.02% respectively.

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