FTSE slides and gold climbs as Ukraine tensions escalate

The FTSE 100 was down nearly 1% this morning, while gold was in the ascendency, as investors sold down BP amid the latest developments in Ukraine.

With towns across embattled Ukraine braced for military action from the government following a weekend which saw more buildings occupied by pro-Russian forces, the UK-listed oil major saw its shares come under pressure because of its interests in the region. BP, which has a stake in Russia's biggest oil producer Rosneft, was off 1.4%, dragging on the wider index which was down 0.8% at 6,512. While markets pulled back - shares were down across Europe today in unison, while Asian indices started the week lower - gold rallied, climbing 0.5% to $1,325 as investors switched to the safe hav...