London's leading index fell for a second day on Tuesday and little shelter could be found in an...
London's leading index fell for a second day on Tuesday and little shelter could be found in any sector. The FTSE 100 slumped 73.90 points to 5093.40.
Only 15 FTSE 100 stocks enjoyed gains of 1% or higher. Worse still, these gains were capped at a lowly 2% by Lattice, whose shares improved 5.25p to 168.75p.
EMI was one of the poorest performers after it admitted full-year pretax profit will come in about £150m lower than analyst estimates of between £160m £207m. Last month the group dropped artist Mariah Carey. EMI shares dropped 6.4%, to 305p.
Amvescap also fared poorly as it lost 4.7% to 886p. The fund group said full-year profit almost halved to £154.8m. It pinned the blame on acquisitions and falling stock markets.
Amongst the mid caps, Manchester United improved 2.2% to 140p after news emerged that manager Sir
Alex Ferguson is in talks to remain coach despite saying he would quit in May.
Over on Wall Street, at midday the major indices were flat. The Dow Jones was up 8 points to 9695, the Standard & Poor's 500 was down 2 points to 1092 and the Nasdaq lost 6 to 1848.
Tyco plunged a further $5.49 to $24.41 in the wake of yesterday's bombshell announcement that it had spent $8bn in the past three years on acquisitions it didn't make public.
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