The FTSE 100 index closed down 16.20 points at 4,032.40 today - despite being up about 50 points at ...
The FTSE 100 index closed down 16.20 points at 4,032.40 today - despite being up about 50 points at one stage - following an afternoon sell-off of insurance and telecoms stocks. Friends Provident's morning announcement of a massive bond sale the day after a credit downgrade put pressure on the entire sector - itself it lost 9.25p to 131p. Prudential lost 25.5p to 482.5p and Legal & General shed 2.75p to 106.75p. Vodafone was another big anchor, losing 3.5p to 117.5p after sentiment turned against telecoms following protests against France's bail-out of France Telecom. ...
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