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FTSE stumbles to six week low on US rate rise concerns

(c) Sky News 2016

The FTSE has closed at a six-week low, as speculation over a US interest rate rise and Hillary Clinton's health troubles rattled investors.

The FTSE 100 index closed down 76.1 points or 1.12% as global markets reacted to the US Democratic presidential candidate being diagnosed with pneumonia just weeks ahead of the US election.

In addition, concerns have also grown over the likelihood of the US Federal Reserve increasing interest rates next week when the committee meets on 21 September.

Boston Federal Reserve president Eric Rosengren, has said that the economy of the country would be at risk if there was too much of a delay before an increase takes place.

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Jane Foley, a senior FX strategist at Rabobank, said the scare may have spooked investors who are concerned about the economic uncertainties which are likely to hit the markets should Mrs Clinton's rival, Republican Donald Trump, win the presidency.

Stocks dropped globally on Sunday after Mrs Clinton was seen stumbling as she left a 9/11 memorial ceremony in New York.

It was later announced that she was suspending several campaign events as she rested and recovered from the respiratory infection.

The day's FTSE falls were better than expected and defied earlier predictions suggesting the Index would see the biggest drop since the days immediately after the EU referendum.

At one point all 100 companies listed were trading in negative territory.

Associated British Foods (LSE: ABF.L - news) , which owns fashion chain Primark, was the biggest loser on the market and had seen its share price closed 10.8% on Monday following a disappointing financial results release in the morning.

Shares (Berlin: DI6.BE - news) in Marks and Spencer also took slumped, dropping 17.4p to 326.2p following the announcement that its executive Laura Wade-Grey will not return to work after maternity leave.

The biggest risers on the FTSE 100 for the day included AstraZeneca (NYSE: AZN - news) up 39p at 4858p and Burberry up 9p at 1262p.