UK stocks took a knock for the third day in a row after Deutsche Bank declared Vodafone is overdoing...
UK stocks took a knock for the third day in a row after Deutsche Bank declared Vodafone is overdoing its profit forecasts again, and signs of a global recovery begin to wane.
The FTSE 100 index dropped 51.2 points or 1.2% to 4071. and the FTSE All-Share index lost 21.11 points or 1.1% to 1958.76 despite some strong results in a tough climate.
Aviva, possibly one of the strongest performers this year having risen 53% since January, lost 17p or 3.2% to 523p as analysts not believe it may have reached it peak for a while.
EasyJet, the no-frills airline, earlier in the day had a decent run after revealing their accounts. Stelios managed to produce a 29% profit just before he stepped down as head of the firm. But was still under analysts' forecasts of 34% profit. EasyJet lost 53p or 14% to 337p.
And Vodafone Group was as fluid as ever, falling 5p or 4.1% to 118p, having managed to pull itself back well from a few months ago when the stock crossed the £1 barrier.
Not surprisingly, US stocks have slipped again as economic growth and the value of goods inflated further than anticipated. US goods grew in value by 4% in the 3rd quarter, compared with the 1.6% predicted.
Many of the most valuable companies, such GE, Microsoft and Wal-Mart all suffered, as the S&P 500 lost 11.99 points or 1.3% to 920.89.
The Dow Jones also lost 128.83 points or 1.4% to 8720.57 while the Nasdaq slumped 18.64 points or 1.3% to 1463.26.
General Electric slipped 38 cents to $26.42 while Microsoft fell 58 cents to $57.65 and Wal-Mart lost 33 cents to $53.51.
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