UK investors reduce "too high" FTSE

UK investors feel the stock markets have climbed too far since September, so they are pulling in the reins this morning to drag the FTSE downwards. The FTSE 100 fell 24.1 points or 0.5% to 5254, hit mainly by ARM Holdings, which has climbed 90% by yesterday since September 21, Granada and Sage Group. All three companies' earnings growth potential is unrealistic according to market analysts, who have duly altered their stance on stocks to reflect sentiment. Arm has lost 11.5p or 2.9% to 379.5p, Granada has lost 459p or 2.9% to 151p, having gained 60% since Sept 21, and Sage dropped 6.2...