Global markets took a pounding today following yesterday's revelations of further accountancy fraud ...
Global markets took a pounding today following yesterday's revelations of further accountancy fraud by a major US corporation, and the FTSE 100 index fell a neat 100 points by the close at 4,531.
This was not as bad a drop as earlier in the day, but still put the market in touching distance of its September lows last year.
The FTSE is now approaching levels not seen since 1996.
Only nine companies were able to make gains today, with the rest suffering share price losses.
The lucky ones were Marks & Spencer, up 0.25p to 357.5p, Lattice, up 0.25p to 174.25p, Hays, up 0.25p to 153.25p, Boots, up 1.5p to 625p, Pearson, up 2p to 666.5p, Man Group, up 6.5p to 955p, Bunzl, up 6.5p to 486.5p, Cadbury Schweppes, up 7.25p to 474p, and Smith & Nephew, up 8.25p to 361.25p.
Cadbury said it would be closing a deal to acquire assets from rival Dandy.
And Bunzl said its full-year earnings were still expected to hit forecasts.
The UK mid-cap FTSE 250 index lost 130.6 points to 5,404.9, led down by Amey, which lost 23.5p to 175p on news that London's Mayor Ken Livinstone is considering new measures to halt the PPP deal to hand over the Underground to private contractors.
Debenhams led the gainers, up 11p to 335p, while Thistle Hotels gained 3p to 132p after analysts at Deutsche Bank raised the stock to a 'buy' recommendation.
The Dow Jones Industrial Average and Nasdaq Composite are both trading down about 1%, an improvement on the 3% or more losses exprienced when they opened some hours ago.
Partner Insight: For Blackfinch, the arrival of its IHT portfolio services was a 'natural evolution' in the group's offering and points to an established track record of returning cash to investors.
Senior Managers Regime
Interest rate outlook unchaged
FCA made demands last week