FTSE slides back under 4,700 barrier

The FTSE 100 Index dipped back below the 4700 barrier today as investors fretted over high oil prices and surprisingly weak manufacturing data.

By mid-morning the Footsie had weakened 11.9 points to 4695.2 after the cost of a barrel of crude soared above the 51 US dollars mark for the first time in its history.