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FTSE 100 sinks by 0.4%

FTSE 100 sinks by 0.4%
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The FTSE 100 has slumped by 0.4 per cent earlier this afternoon (March 23rd).

By 14:15 GMT, the largest index on the British stock exchange retreated to 5,741.27 after a drop of 0.1 per cent yesterday, Bloomberg reports.

Among the biggest fallers were supermarket J Sainsbury, which decreased by 6.6 per cent after it reported a slowdown in sales.

Earlier this morning, the index went down by 0.2 per cent to 5,751.62 just before midday despite rallying by as much as 0.7 per cent following the publication of the Bank of England's monetary policy meeting minutes.

They revealed the policymakers voted six-three to keep the interest rate the same this month, reflecting a similar stance last month when an additional member - Spencer Dale - joined the Andrew Sentance and Martin Weale in voting for a cash rate increase.

What's more, there has been speculation that the next interest rate rise could occur in May.

Posted by Clive ArneilADNFCR-1681-ID-800473664-ADNFCR