Morning Markets: Weak US data sends FTSE towards 5,000 mark

Shares fell in London this morning, following trends in the US after new data revealed weaknesses in the world's largest economy.

The FTSE 100 dropped 23.91 points (0.47%) to 5,023.9, prompting fears it could drop below 5,000 later today. Natural resources firms were hit particularly badly, with investors fearing a slow US manufacturing sector will hit demand for raw materials. Rangold Resources was the biggest loser, down 2.72% to £41.20, while Petrofac and Kazakhmys dropped 2.69% and 2.6% respectively. Prudential shares fell 2.7% to 576p after a Morningstar report suggested a fair value for the firm of 441p per share. It says the insurer has struggled to generate consistent growth. US stocks tumbled on ...