Continued falls in FTSE stock left the index of 100 leading UK shares down 63.40 points at 4,541.90 ...
Continued falls in FTSE stock left the index of 100 leading UK shares down 63.40 points at 4,541.90 by the close today, meaning it is heading for the worst month since October 1997.
Real pessimists are starting to talk about earnings grown not coming through until 2004, far later than the second half of this year that many companies still hold to as their forecast turnaround period.
Biggest loser of the day was Sage, down 11.75p to 152p after the EC cleared Microsoft's acquisition of Navision, a competitor to the UK leader in small business accounting software.
Dire statements about the state of the advertising marker helped push WPP down 38.5p to 553.5p by the close.
And even the defensive BAT stock was unable to resist the trend, losing 52p to £10.19 after news of a NZ$300,000 lawsuit, the first of its kind in that country.
Still, some people are buying widgets, which is good news for logistics company Exel, and it gained 11p to 831p today after it said profits should continue growing this year in line with expectations.
UK mid-cap stocks were led downwards by Aggreko, which shed 83.75p to 157p after it said earnings would slip by about 15% because of difficult trading conditions in the US.
That helped push the FTSE 250 index down by 57.6 points to 5,497.5.
Big Food group managed to buck the trend with a 6p rise to 110p, despite continued news of executive pay, which remained high last year despite the company's share price meltdown.
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation