The FTSE 100 came back to reality this afternoon as investors digested a string of poor news from co...
The FTSE 100 came back to reality this afternoon as investors digested a string of poor news from companies, sending the index down 10 points to 4,175 just ahead of the close.
Scottish & Newcastle was down 20.75p to 367.25p after shares wend ex-dividend.
Lloyds TSB dropped 15p to 429p on news of a credit downgrade by DBRS.
BP dropped 6.25p to 432.5p after shares went ex-dividend and the company was forced by US Securities and Exchange Commission rules to cut about a third off previous estimates of the value of the oil reserves it has tapped into though its massive multi-billion dollar Russian investment agreed some months ago.
The banking sector has been hit after Switzerland's UBS reported results saying that the bond market is about to cool off significantly affecting second half figures.
Barclays dropped 12.75p to 478.75p, Royal Bank of Scotland lost 35p to 1629p and HBOS dropped 10p top 735.5p.
AstraZenica is up 46p to 2535 on news it will be allowed to sell a new anti-cholesterol drug in the US.
The FTSE 250 index is up 46 points to 5,411.
Millenium & Copthorne is up 27.5p to 292.5p on hopes that hotel bookings are increasing with economic recovery.
Northern Foods is down 4.5p to 160p after Panmure reduced its recommendation on the stock to 'sell'.
‘In the know’
Owen to pay £3m
Lasting power of attorney
Three risk profiles
Caused by falling oil price