UK stocks fell on concerns that consumer spending in the US is dampening optimism about an economic ...
UK stocks fell on concerns that consumer spending in the US is dampening optimism about an economic rebound.
The FTSE 100 lost 19.8 points to 5414.9 and the Techmark rose 2.38 points to 1495.8.
Among the risers, CMG gained 28p to 241.5p after the computer-services company announced that its information and communication business was growing. Keller group jumped 22p to 200p, after the construction group posted favourable results.
PNC telecom lost 42% of its share price, a drop of 17.5p to 24p after the telecommunications company said financial results will be below forecast. Intelek, the electronic maker, was down 7.5p to 22p after announcing that financial results might be below expectations.
US markets tumbled yesterday after consumer confidence figures were lower than expected. US markets may be braced for a further downturn if revised second-quarter US GDP figures show the economy contracted.
The Dow Jones was down 160 points to 10,222 and Nasdaq fell 42 points to 1,655.
In after-hours trading, Gateway rose as high as $9.40 after it closed at $8.60. The direct seller of personal computers announced its plans to save $300m a year. H & R, the tax preparation company, rose 29 cents to 37.74 as it announced a narrowed loss.
Asian markets also fell. The Japanese Nikkei 225 breached it 11,000 psychological barrier for the first time since October 1994. The Nikkei 225 was down 209.64 to 10,979.776. Hong Kong's Hang Seng fell 83.56 points to 11,216.97.
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