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FTSE falls 1.8% in morning trading

FTSE falls 1.8% in morning trading
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A 1.8 per cent drop was seen on the FTSE 100 after early morning trading today (Monday June 14th), with commodity price falls having an influence on stock market trading.

Declines in mining firm prices helped to push the index down to 4,363.09 as of around 08:00 BST.

Reuters noted that falls of between 2.1 per cent and 4.5 per cent were recorded for companies such as Tullow Oil, BG Group, Royal Dutch Shell, BP and Cairn Energy.

Commenting on this, Keith Bowman, an equity analyst for Hargreaves Lansdown, told Reuters: "There's a combination of nerves creeping into the market after the strength seen since March."

It comes following last week's rise in the price of crude oil, which reached a seven-month high of more than $72 a barrel following three days of consecutive increases.

However, Ben Westmore, an energy analyst for National Australia Bank, told Associated Press that the figure could drop again unless positive economic reports are sustained throughout the summer.
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