At the close: One-way traffic on the FTSE 100 as miners and supermarkets drag it down
Sunshine may be sweeping the capital, but the stock markets are still feeling down, as the FTSE 100 sunk to a four-week low.
Closing down 1.2 per cent at 6,112.02, the FTSE 100 has now lost five per cent since it hit 2016 highs back in the middle of April.
Miners dug themselves into a hole as commodity prices dropped and sent them to the top of the losers' board. For BHP Billiton, the biggest faller of the day, the troubles were more than just the to-and-fro of price movements, as legal trouble in Brazil sent it down six per cent to 822p.
[stockChart code="UKX" date="2016-05-04 16:55"]
The big supermarkets were also on the wrong side of the action today after Kantar Worldpanel said that sales fell at all of the Big Four in the first three months of the year.
Sainsbury's cut its price by six per cent to 267p – its lowest close since March's market madness. Tesco also hit the discount rack as it was trading five per cent cheaper at four-month lows of 160p.
In Europe, both the German Dax and the French Cac also shed more than one per cent a piece. The Dax stood at 9,821.71 while Cac was down to 4,320.57.
Read more: Stock markets should love Tony Blair
Over on the currencies desks even the most bullish of the lot probably knew it couldn't last. That's right, the pound lost ground, sinking below the $1.45 mark to wipe off a recent rally for sterling.
After dipping to 11-month lows, the dollar also stabilised, holding steady against the euro and climbing against the yen.
Oil prices stayed where they were, flirting with $45 a barrel, but ultimately failing to convert, as a barrel of Brent crude for delivery in July will set you back $44.90.