The FTSE 100 closed lower on Tuesday after it slipped 24.2 points to 5160.8. Shares i...
The FTSE 100 closed lower on Tuesday after it slipped 24.2 points to 5160.8.
Shares in foodservice provider Compass Group topped the FTSE 100 leader board with a rise of 42p to 512p. The group unveiled on target full-year profits of £583m, a significant improvement on last year's £278m.
Leading the FTSE 100 fallers were British Airways, down 6% to 215.5p, Rolls-Royce down 5% to 164p and Pearson after it lost 4% to 823p.
In the US, however, all the key indices were higher. The Federal reserve is widely expected to announce a quarter point rate cut today at about 2:15 pm New York time. The decision has been given recent impetus after it was revealed the US is experiencing its highest unemployment rate in more than six years as well as suffering from an ongoing manufacturing slump.
At midday the Dow Jones was up 25 to 9946, the Standard & Poor's 500 increased 3 to 1143 and the Nasdaq fared best with a rise of 25 to 2017.
Telecom related stocks fared well after bellwether Nokia said it might better its fourth-quarter earnings forecast thanks to cost cuts and an increase in market share. Nokia's stock advanced $1.68 to $25.47.
Nokia's bullish announcement helped boost other telecom related stocks. Motorola added 8 cents to $16.73 and Texas Instruments, gained 71 cents to $31.82.
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