Published Date: 09 July 2008 LONDON'S leading share index closed 1.3 per cent lower last night, erasing much of Monday's gains, as falls in heavyweight commodity stocks tracked crude and metal prices lower. The commodity-heavy FTSE 100 slumped 72.2 points to 5,440.5 after gai ning 1.9 per cent in the previous session. The index has fallen about 16 per cent this year. Talk of a looming UK recession saw the Footsie slump almost 3 per cent at one point yesterday morning, officially entering "bear market" territory, albeit only temporarily, when it hit 5358.7 – more than 20 per cent below its peak in June last year, and the classic definition of a bear market in which shares steadily decline. However, an afternoon rally restricted losses. Andrew Turnbull, director at Blue Index CFDs, said: "The majority of our clients have been...
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