Poor profit forecasts lower investor hopes

Stock movements looked bleak again in today's trading after lower profit and sales warnings from several firms knocked investors' confidence and dragged the UK stockmarket down. Xansa, Northern Foods and Schroders and US technology firm Intel all forecast lower sales or profits and sought to push rival firms such as Bookham Technology and Arm Holding south.. The U.K.'s benchmark FT-SE 100 Index closed down 38.40 points, or 0.7%, to 5127.60, completing its sixth drop in eight days. Strong annual sales at Prudential, particularly in Asian insurance and investment business, gained th...