Fed cuts rates to 1% but markets fails to see the positive

Federal Reserve rate cuts may be good for US homeowners, but the reaction on the global stockmarkets has not been as favourable as expected, and some firms are still finding the environment much harder than anticipated. Construction firm Hanson has so far taken one of the biggest knocks this morning, after reported its first-half earnings are likely to be seriously hampered by a $64m charge for 21,000 new asbestos claims in the US. This pushed the Hanson share price down 29.5p or 8% to 339p which is turn has forced the FTSE 100 down 17.8 points or 0.4% to 4050. Media firms ar...