The FTSE 100 was slightly lower this morning after Wall Street failed to pick up yesterday. T...
The FTSE 100 was slightly lower this morning after Wall Street failed to pick up yesterday.
The FTSE 100 was down 10.2 points to 5407.4 and the Techmark fell 21.65 points to 1477.75.
Among the movers, Rentokil Initial rose 11.75p to 244.5p after the provider of pest control services forecast strong growth in earnings per share this year on increased margins and a stock buyback programme. Spirent fell 22.25p to 118p after the telecom equipment group posted disappointing interim results.
Wall Street continued its downward path yesterday despite better-than-expected economic news that the economy grew 0.2% in the quarter instead of the anticipated zero growth rate. However investors were concerned over a 2% fall in corporate profits in the second quarter.
In after-hours trading, Loudcloud rose as high as $3.33 after closing at $2.20 in regular trading, after the manager of corporate website announced narrowing expected losses. Tech Data advanced to $38.97 after closing at $33.35 in regular trading, the computer distributor said that it expected a higher net income per share than forecasted.
Japanese stocks plunged. The Topix dived to a 30-month low while the Nikkei 225 stayed below the psychological safety barrier of 11,000 at 10,938.45.
The Topix slid 12.28 to 1114.58, its lowest level since March 1998. The market was concerned over disappointing industrial production and banking stocks were particularly badly hit by bad debt worries. Hong Kong's Hang Seng fared better. The index rose 47.38 to 11,298.2.
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
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