London close: Markets spring leak as oil prices tumble

The falling price of crude oil and precious metals left markets struggling to get a grip on Tuesday.The price of a barrel of US light crude fell nearly 3% to about $76.5 a barrel and Brent crude dipped below the $83 mark, dragging the FTSE 100 Index down 34 points at 6453.97.World gold prices are at their lowest since 2010 and have slid as the US dollar strengthens and Chinese demand wanes.Market analyst at spread-betting firm IG, Chris Beauchamp, said: "Oil firms are becoming more vulnerable by the day, and production cutbacks become almost inevitable among the major names if the crude price falls further. A similar situation prevails among gold and silver miners."In economic news, British construction output expanded last month at its weakest rate since May, according to the seasonally adjusted Markit/Chartered Institute of Purchasing & Supply (CIPS) UK construction purchasing managers index (PMI).The PMI registered 61.4 in October, down from 64.2 during September and the lowest reading for five months, but still well above the 50 mark indicating growth.In corporate news, falling oil prices caused leaks in the share prices of oil and gas majors. Tullow Oil led the sector and the Footsie fallers lower with a 25.4p drop to 457.9p.BG Group deflated 36.9p to 999.1p, oil services supplier Weir Group fell 76p to 2165p, BP was off 13.3p at 430.4p, Petrofac slipped 31p to 1049p and Royal Dutch Shell B shares leaked 62p to 2220p.Commodity and mining giant Glencore reversed 4.35p to 310.6p despite an 8% rise in copper production in the first nine months of the year thanks to strong output from Africa, while its trading division performed in line with its expectations.Primark owner Associated British Foods perked up 112p to 2783p as the group reported a 6% rise in full year earnings and dividends against the same time last year.Lambert & Butler and Davidoff cigarette maker Imperial Tobacco wafted 110p higher to 2777p after posting higher profits and hiked its dividend by 10% to 128.1p per share, although revenue fell.Jet engine maker Rolls-Royce powered ahead 13p to 848p as it replaced finance chief Mark Morris and said it was cutting 2,600 jobs in the next 18 months.Market MoverstechMARK 2,753.21 -0.45%FTSE 100 6,453.97 -0.52%FTSE 250 15,394.11 -0.38%FTSE 100 - RisersAssociated British Foods (ABF) 2,783.00p +4.19%Imperial Tobacco Group (IMT) 2,777.00p +4.12%Randgold Resources Ltd. (RRS) 3,805.00p +2.84%Legal & General Group (LGEN) 235.20p +1.99%Dixons Carphone (DC.) 395.30p +1.65%Rolls-Royce Holdings (RR.) 848.00p +1.56%London Stock Exchange Group (LSE) 2,041.00p +1.54%British American Tobacco (BATS) 3,553.00p +1.25%Direct Line Insurance Group (DLG) 277.90p +1.24%G4S (GFS) 255.40p +1.19%FTSE 100 - FallersTullow Oil (TLW) 457.90p -5.26%Aggreko (AGK) 1,455.00p -4.28%BG Group (BG.) 999.10p -3.56%Weir Group (WEIR) 2,165.00p -3.39%BP (BP.) 430.40p -3.00%Petrofac Ltd. (PFC) 1,049.00p -2.87%Royal Dutch Shell 'B' (RDSB) 2,220.00p -2.72%Royal Dutch Shell 'A' (RDSA) 2,139.00p -2.60%Burberry Group (BRBY) 1,477.00p -2.12%Hargreaves Lansdown (HL.) 981.50p -1.85%FTSE 250 - RisersNMC Health (NMC) 514.50p +5.58%Man Group (EMG) 129.80p +5.19%RPC Group (RPC) 552.00p +3.66%Euromoney Institutional Investor (ERM) 1,103.00p +2.89%Domino Printing Sciences (DNO) 609.50p +2.61%Greencore Group (GNC) 263.80p +2.49%Hellermanntyton Group (HTY) 307.00p +2.10%Catlin Group Ltd. (CGL) 538.00p +2.09%Hiscox Ltd (CDI) (HSX) 688.50p +1.92%Rank Group (RNK) 164.00p +1.86%FTSE 250 - FallersAfren (AFR) 69.70p -7.25%Ophir Energy (OPHR) 178.30p -6.11%Amec (AMEC) 993.00p -5.97%Jardine Lloyd Thompson Group (JLT) 884.00p -5.96%Premier Oil (PMO) 242.00p -5.69%Ferrexpo (FXPO) 81.10p -5.26%Hunting (HTG) 695.50p -5.12%Wood Group (John) (WG.) 632.50p -4.89%Hochschild Mining (HOC) 97.00p -4.81%Regus (RGU) 186.00p -4.62%