Picture: Shaun Curry Picture: Shaun Curry
London - Britain's top equity index fell on Tuesday as weak data from China, the world's second-biggest economy and the biggest global consumer of metals, knocked down the shares of major mining groups.
The blue-chip FTSE 100 index was down 1.1 percent at 6,117.91 points in early session trading.
Read: FTSE falls on commodities weakness
The FTSE is down by around 2 percent since the start of 2016 and 14 percent below a record high reached in April 2015, as concerns over a slowdown in China have weighed on world stock markets.
Data on Tuesday showed that China's February trade performance was far worse than economists had expected.
Chinese exports tumbled the most in over six years, days after top leaders sought to reassure investors that the outlook for the world's second-largest economy remains solid.
“Global markets have been rattled by the sharp decline in China's exports which reinforced the lingering concerns over the slowing pace of growth in the world's second largest economy,” said FXTM research analyst Lukman Otunuga.
Mining stocks suffered, given China's role as a major consumer of metals.
Anglo American fell 6.8 percent, while BHP Billiton retreated by 5.4 percent.
However, Burberry rose 3.7 percent after the Financial Times reported that the luxury goods group had sought help to fight off a bid.
REUTERS
