UK stocks dropped again this morning amid growing fear that the war in Iraq is lowering consumer and...
UK stocks dropped again this morning amid growing fear that the war in Iraq is lowering consumer and corporate confidence.
The benchmark FTSE 100 Index has so far fallen 28.2p or 0.7% to 3764.9p and the FTSE All-Share is down 11.58p, or 0.6% to 1803.21p.
Britain's largest pharmacy chain, Boots Group, dropped 5.7% to 545p after the company said full-year profit will be at the 'lower end' of what was predicted by analysts.
However, the clothing retailer Austin Reed Group is up 27p or 23% to 142.5p after announcing that it has received an approach that may lead to a takeover of the company.
In Asia, Cathay Pacific Airways, Shangri-La Asia and other travel-related stocks fell as the war in Iraq continues and after Hong Kong concluded it may have to quarantine people exposed to a disease.
Hong Kong's Hang Seng Index dropped 174.77p or 1.9% to 8872.32p by close of business while South Korea's Kospi Index also fell 5.53p or 1% to 549.26p, its fourth day of decline.
However, Japan's Topix Index advanced for a sixth day in seven and the Nikkei 225 Stock Average gained 0.2% to 8368.67p.
In the US, shares dropped once more as the war begins its second week. Dow Jones Industrial Average fell 50.35p or 0.61% to 8229.88p and S&P 500 Index lost 4.79p, or 0.55%, to 869.95p. Nasdaq also suffered a loss as it dropped 3.56p, or 0.26% to 1387.45p.
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