(MENAFN- ProactiveInvestors)London's blue chip shares are set for a steady start after heavy falls Tuesday though the mood remains nervous after the main US market plunged by almost 500 points. Financial spreadbet firms see Footsie opening around 15 points higher and recouping some of yesterday's 189 point after Chinese stocks recovered a little near the close. China has been the cause of the recent sell-off and sparked more red ink yesterday after another weak set of manufacturing numbers. Concerns about the knock-on effects on other economies were felt most keenly in the US with the Dow Jones Industrial Average suffering its third worst fall this year. The Dow dropped 470 points to 16058 but there were equally heavy percentage declines for Nasdaq and the S&P 500. Traders said redemptions from mutual funds by investors were adding to the pressure and fuelling the downturn. Asian markets provided some relief late in the day with Tokyo rising and China and Hong Kong both picking up a little though both markets remained in the red overall. Company news is light today though Tesco may make the early headlines on reports it has sold its Korea operation for more than US$6bn. Construction equipment rental Ashtead's first quarter results come on the back of a sharp improvement recently in US spending in the sector and analysts expect strong momentum seen last year to continue.
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