Lionesses roar but City responds with a whimper

The feelgood factor that usually follows a national sporting triumph was in short supply today when the FTSE 100 ignored the Lionesses’ heart-warming defeat of Australia in the World Cup semi-final.

Instead, the index went into reverse, shedding 46.67 points to 7,310.21 points, a fall of 0.6 per cent, as traders focused on the global economy. The China slowdown rattled markets and the possibility of another rate rise by the Fed raised fears of a deeper downturn in the US.

It could have been worse. The FTSE 250 lost 224.71 points, or 1.2 per cent, to close at 18,356.07 points.

Top of the FTSE 100 risers were a brace of miners, with Rio Tinto up 1.7 per cent, or 77p, to £46.36, and Glencore 1