Markets in the UK marched downwards again today depressed after yet another grim performance from Wal...
The FTSE 100 was down 120.4 points to 5420.3.
Factory controls manufacturer Invensys joined the tech tumble and the growing list of companies to be hit by a decline in their trading with the US. Invensys led the morning's losers after it warned that second-half profits will be marginally lower than those of the first half. On the upside, the group said its recent acquisition, Baan, is now trading profitably. Even so, the stock slipped 16.5p to 112.5p.
Amongst the raft of FTSE 100 fallers, telecom equipment manufacturer Marconi lost 24.5p to 353.5p and BT dropped 30p to 464p.
Few stocks in the FTSE 100 posted gains this morning but there were modest rises for retail stocks.
On the FTSE 250 auto parts group Laird was in the doldrums. Shares toppled 80p to 189p, wiping well over £100m from its £383.7m market value, after the group unveiled full-year profit figures of £56.5m compared to £60.7m last year. The group blamed the US economic slowdown for its poor results.
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Responding to letter from Treasury Committee chair Nicky Morgan