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London markets spooked by global economic fears

A significant miss in German industrial orders spilled into London markets, dragging energy and mining stocks lower.

How did markets perform?

The U.K.’s FTSE 100 UKX, -0.62% gave back its advance from Wednesday. It declined 0.6% Thursday to 7,373.8 after having risen 0.4% on Wednesday.

The pound GBPUSD, -0.0304% continued to rally after picking up 1% Wednesday. On Thursday it was $1.3173, a further rise of 0.1%.

What’s moving the markets?

Shock and awe in Germany Thursday morning as the February month-over-month survey data for manufacturing orders came in at -4.2%, well below the consensus of a 0.55% increase as well as January’s -2.1% drop.

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