UK stockmarket saw its second day of declines this morning paced by Britain's biggest insurer Pruden...
UK stockmarket saw its second day of declines this morning paced by Britain's biggest insurer Prudential.
The benchmark FTSE 100 fell 6.4 poinnts or 0.2% to 3848.5 and the FTSE All-Share Index shed 7.38 points or 0.4 % to 1845.88 as of 9.30am this morning.
Britain's largest insurer, Prudential, dropped 7p or 1.9%, to 358.5p after the company said first-quarter revenue fell after the most prolonged bear market since World War II had decreased consumers' demand for pensions and mutual funds.
Supermarkets were among the stocks gaining as Somerfield advanced 2p or 2.2%, to 91.75p after investors said they encountered the owner of Kwik Save food stores with offer of a takeover.
However, Tesco, Britain's biggest food retailer, shed 2.5p or 1.3%, to 189p after it decided to buy a stake in a Turkish hypermarket chain.
In Asia, stocks fell paced by Japanese electronic shares as optimism that demand is growing was cooling down.
Japan's Nikkei 225 Stock Average dropped with 57.59 points or 0.73%, to 7,821.90.
In Hong Kong, the Hang Seng Index fell 87.90 points or 1.01% to 8,587.24 as property companies shares declined on fears that the spread of SARS will avert people from viewing houses.
On Wall Street, yesterday's trading ended on a gloomy note as Dow Jones Industrial Average almost fell with 2% or 144.75 points to 8,257.61 at closing time. S&P 500 also dropped 10.90 points or 1.22%, and closed down on 879.91.
However, Nasdaq rose slightly with 3.71 points or 0.27% to 1,394.72.
What made financial headlines over the weekend?
Q2 net sales dropped almost 50%
‘Important to have an anchor’
Lack of innovation for solutions