FTSE wobbles as Japan posts trade deficit

London's leading share index has slipped into the red in early trading, mirroring losses overnight in Asia and the US, after gloomy economic data from Japan dampened sentiment.

Japan announced it had moved from a trade surplus of 60.3bn yen in June to a deficit of 517.4bn yen (£4.14bn) in July. The surplus surpassed analysts expectations, who anticipated a deficit of 270bn yen. The country reported an 8.1% decline in exports year on year, due to slowing demand from China and Europe. The FTSE 100 declined 0.93% or 54 points to 5,803 at 10.15am, dragged lower by mining stocks. Kazakhmys was the biggest faller, declining 2.38% or 17.5p to 717p. The weak Japanese export data dragged both US and Asian markets down overnight. The Dow Jones dropped 68 p...