Having announced its quarterly re-shuffle of stocks in the FTSE 100 Index, there was little in the w...
Having announced its quarterly re-shuffle of stocks in the FTSE 100 Index, there was little in the way of cheer as the last clearout of former tech stock darlings led a 83.10 point drop to 4,851.70 by the close.
Out went chip designer Arm, software firm Logica and manufacturer Electrocomponents, and in came miner Xstrata, chemicals specialist Johnson Matthey and paper cup supplier Bunzl - a spicy stock if there ever was one.
Arm shares dropped 14.5p to 165.5p, Logica actually gained 1.75p to 220.25p, while Electrocomponents remained unchanged at 414.5p.
Otherwise the oil stock stayed on their downward path, Shell losing 16.5p to 495.5p and BP shedding 9p to 551p.
Vodafone fell firmly below the £1 level again, off by 2.25p to 97.25p.
Media was under the cosh through Granada's 6.5p drop to 120.5p after it and competitor Carlton said they bought ITN's 65% stake in the ITV news channel for an undisclosed amount.
The insurance sector took a beating through the new six-year low share price hit by CGNU today, down 14p to 571p on fears of capitalisation and the additional costs of new regulatory regimes on the way.
Legal & General lost 5.5p to 133p, while Prudential shed 28p to 587p
Some rare sunshine from retailer Dixons, however, which led the gainers with a 4.75p gain to 221.25p, and gains by gas prospector BG, which gained another 2p to 290p on further news of strong demand for gas projects.
The mid-caps FTSE 250 index shed 57.3 points to 5,910.8, with a big slide in Pilkington after news that its previous chief executive was selling shares - the stock shed 7p to 98.5p.
In New York the Dow Jones Industrial Average index is currently down about 38 points at 9,479.
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