FTSE loses ground over Dubai debt crisis

The FTSE 100 Index lost ground today as renewed worries over the impact of the Dubai debt crisis kept anxious investors on the sidelines.

London’s drop came after Dubai’s main stock exchange slid more than 7% and Abu Dhabi markets fell more than 8% on the first day of trading since news that Dubai World, the emirate’s investment and development engine, would seek a six-month delay in paying creditors on nearly $60bn (€40bn) in debt.