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FTSE slumps

The FTSE 100 fell by more than 2 per cent this morning on the back of negative data from the likes of the IMF and Standard and Poor’s.

At 11.55 the blue-chip index stood at 4374.91 a fall of 93.50 points on its opening.

The fall comes as the IMF warned that the UK Government may be forced to thrust more money into the troubled banking system, while Standard & Poor’s also revealed that it has downgraded its outlook on the UK economy from stable to negative.

Leading fallers in the index include Cable and Wireless and Eurasian Natural Resources, which have dropped by 8.28 and 7.32 per cent respectively.

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