Equities fall on rising tension between US & North Korea

Equities fall on rising tension between US & North Korea

Equities fall on rising tension between US & North Korea

The FTSE 100 is clearly in a slump, brought on in part by the tensions between the United States and North Korea, which could eventually culminate in nuclear war.

On the London stock market, mining shares saw the biggest falls as many metal prices were hit by the geopolitical concerns.

Trump said on Thursday that his comment earlier in the week that North Korea should face "fire and fury" if it continued to make threats maybe "wasn't tough enough," the New York Times reported.

At the latest COMEX auctions, gold price ascended $1.90 to $1,292 an ounce, and silver price grew $0.02 to $17.09.

The escalation of the rhetoric between the U.S. and North Korea is keeping market participants on their toes and with no fresh economic reports the price action is dictated by the headlines.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined 20 cents to $51.70 per barrel in London.

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In the eurozone, the Paris CAC 40 dropped nearly 0.7 per cent to 5,081.92 points compared with the closing level on Thursday.

On the currency markets, the pound was up 0.03% against the dollar at $1.2981 but down 0.23% against the euro at 1.0999 euros.

The International Energy Agency said Opec members were not complying with production cuts, which were holding back efforts to rebalance the market quickly.

Despite shedding 0.4pc this morning, the FTSE 100 is actually outperforming its European counterparts as investors move to safer assets.

On Friday, chief executive Bruce Hemphill said Old Mutual is making "excellent progress" in the break-up as he celebrated a 37% rise in adjusted operating profit to £969 million.

The biggest fallers were Standard Life down 16p to 410.8p, Rio Tinto down 109.5p to 3,370p, Old Mutual down 6.2p to 195.3p, Anglo American down 39p to 1,238.5p.

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