UK stocks could not hold onto the gains they made yesterday, and the FTSE 100 index is down about 7 ...
UK stocks could not hold onto the gains they made yesterday, and the FTSE 100 index is down about 7 points to 3,982 this morning.
Cable & Wireless leads the losers in the FTSE 100, dropping 3.25p to 92p, after analysts at CSFB warned that it is likely to report disappointing full-year figures on 4 June because of currency swings and less spending on its telecoms services by corporate clients.
Prudential is down 12.25p to 363p after an analyst downgrade.
Abbey National is down 12.75p to 459.75p following yesterday's proposals by the FSA for regulating mortgage brokers.
Xstrata is up, however, by 17p to 449p as its takeover of Australian miner MIM has developed pricing advantages.
Man Group is up 28.5p to 1213.5p after upgrades by analysts.
The FTSE 250 index is up about 1 points to 4,680.
Wolverhampton & Dudley is up 23p to 636.5p after a boost to sales earlier this year because of unseasonably warm weather bringing people out to the pubs that serve its beers.
Burberry Group continued yesterday's decline set off by poor sales figures linked to the war on Iraq and the SARS outbreak in important Asian markets –shares are down 11.75p to 239.25p.
Stocks gained in the US overnight.
The Dow Jones Industrial Average index climbed 77.59 points to 8,594.02, Nasdaq's Composite index climbed 17.68 points to 1,507.55, and the S&P 500 index gained 8.45 points to 931.87.
Tokyo's Nikkei 225 index gained 133.10 points this morning, closing at 8,184.76.
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