* FTSE 100 down 0.6 pct in late session trading
* Chinese company's bond default hurts miners
* Tensions over Crimea also weigh on UK stock market
By Sudip Kar-Gupta
LONDON, March 7 Britain's main share index fell
on Friday as a landmark corporate bond default in China, the
world's top metals consumer, hit miners, while lingering
concerns about the crisis in Ukraine also weighed on the market.
The blue-chip FTSE 100 index briefly edged into
positive territory after stronger-than-expected U.S jobs data,
but then fell back and was down by 0.6 percent, or 38.83 points,
at 6,749.66 points in late trade.
Traders also pointed to new signs of tension between the
United States and Russia, after Russia's effective seizure of
Ukraine's Crimea peninsula, as further weighing on stock
A U.S. warship passed through Turkey's Bosphorus straits on
Friday on its way to the Black Sea, although the U.S. military
described this as a "routine" deployment scheduled well before
the crisis in Ukraine.
"The pressure is growing to the downside," said Hantec
Markets analyst Richard Perry, forecasting the FTSE could fall
below 6,700 points in coming sessions.
The FTSE 350 Mining Index fell 3.4 percent,
weighed down by a drop in the price of copper on concerns about
slower economic growth in China.
Those concerns were compounded by an unprecedented Chinese
domestic bond default after loss-making solar equipment producer
Chaori Solar missed an interest payment.
Analysts said the landmark default was likely to force a
re-pricing of credit risk in a market that has long assumed even
high-yielding debt carried an implicit state guarantee.
JNF Capital trader Rick Jones said he would buy into the
FTSE if it fell to 6,720-6,730 points, as he expects the market
to rally later in the year and challenge record highs in the
6,900-7,000 points region, as the UK economy continues to