The UK's benchmark index the FTSE 100 ended the day 10.30 points lower at 5468.90 with losses for mi...
The UK's benchmark index the FTSE 100 ended the day 10.30 points lower at 5468.90 with losses for mining giants Anglo American and Rio Tinto and current nosebleed stock Marconi made a modest gain.
The market loss leaves the index some twenty points off last Thursday's three-month low of 5549. Anglo American fell 27p to 981p, Rio Tinto lost 25p to 1238p and Lonmin fell 19.5p to 1007.5 as a result of dwindling metal prices.
Marconi having lost more than half its market value since reporting last Wednesday that profit will halve before year-end 2002 rose 7.5p to 112p.
With Marks & Spencer preparing to report depleted sales performances the retailer fell 10.5p to 248.5p. Property group Artisan added 0.5p to 12p after reporting earnings that had more than doubled to £11.6m for the year to end March from £4.3m a year ago.
Friends Provident in its first day of trading increased 9.5p to 234.5p having raised £1.5bn during its initial public offering after selling 679.9m new shares at 225p each.
Magazine publisher Future Network advanced 7.5p to 30.50p after reporting healthy trading since the middle of June when it issued its last trading statement and consequently saw its share value fall by 57% prior to today's trading.
With expectation growing that Lloyds TSB will fail in its attempt to purchase Abbey National both banks saw their share prices decline. Lloyds by 7p to 663p and Abbey by 9p to 1178p.
The US markets opened with gains. The tech focused Nasdaq gained 20.07 to 2024.23 to end a four day downward cycle, the S&P 500 rose 4.09 to 1194.68 and the Dow Jones added 10.56 to 10,263.23 having lost more than 200 points on Friday.
Only days after AT&T announced the end of its joint Concert project with British Telecom the communication firm is to spin off its mobile phone division to cable TV operator Comcast.
Boeing fell 62 cents to $53.68, while NCR plummeted $6.02, as much as 13%, to $38.75 and Priceline gained 77 cents to $8.60. Qualcomm rose $2.45 to $60.63.
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Celtic WM and Active Wealth