FTSE stays up despite telecoms meltdown

As Vodafone fell below the psychologically important £1 level for the first time in 4 years, the FTSE 100 nonetheless managed to close the day up 29 points at 5,197.60. Analysts said Vodafone's new share price of 98p risked triggering computerised stop-loss selling that would see shares plummet further next week. Investment houses are re-writing their share price targets this afternoon, but one has already predicted a price in the mid-70s. Countering this has been the stellar performance of oil and bank stocks today. BP burned away at the lights this morning, and has...