A mediocre day for the FTSE 100 was soured this afternoon after the US released figures that re...
A mediocre day for the FTSE 100 was soured this afternoon after the US released figures that reveals consumer confidence in its economy is waning. The subsequent downturn on Wall Street hit UK shores and the FTSE 100 finished lower.
The FTSE 100 ended the day down 37.2 points to 5434.7 with falls predominantly for new economy stocks.
Software group CMG led the FTSE 100 fallers with a loss of 28.25p to 213.5p. The shares came under pressure ahead of the group's interim results, to be announced tomorrow. US investment bank JP Morgan reckons CMG will unveil some negative comments following the downturn in trade that has occurred since shareholders were last updated. City whispers also suggest Deutsche Bank placed around 2 mln CMG shares in the market today at 218p.
Dixons led FTSE 100 gains with a rise of 5.25p to 228.25p.
Over in the US all the key indices were lower following the surprise drop in consumer confidence in the economy. This has further raised concern that corporate profits are not due to rally in the immediate future.
General Electric and AOL Time Warner led declines - GE, the largest stock by market value, lost 66 cents to $41.51 and AOL Time Warner, slipped $1.25 to $40.40.
The Dow Jones was down 117 points to 10264, the Standard & Poor's 500 fell 11 points to 1167 and the Nasdaq lost 27 points to 1885.
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