FTSE tumbles 2.5% on fresh China concerns

Miners drag down index

The FTSE 100 tumbled 2.5% in morning trading today as weak manufacturing data in China intensified fears the region's slowdown will be worse than originally anticipated.

The UK's blue-chip index shed 2.5% by 10.35am, to trade around 6,094, as an official survey revealed activity in China's manufacturing sector contracted at its fastest pace in three years in August, according to Reuters. There were no stocks posting positive moves while miners continued to drag down the index - BHP Billiton, Anglo American and Glencore were all among the bottom five losers, down between 4% and 5.5%. Meanwhile, European markets were also hit, with the Dax down 2.68% and the CAC 40 dropping 2.41% by mid morning. The losses follow a week of extraordinary volatility i...