The FTSE 100 lost ground today, finishing the day down 78.2 points to 5067.30 with investor con...
The FTSE 100 lost ground today, finishing the day down 78.2 points to 5067.30 with investor confidence unsettled as the bombing of Afghanistan continues and new reports of anthrax emerge in the US. Gains amongst the FTSE 100 were capped at just 3% by Allied Domecq, Arm and Sage but losses were spearheaded by Kingfisher and Rolls-Royce both down 6%.
Rolls-Royce's most recent blow came after the weekend press reported it has plans to cut 3,500 jobs in the wake of the terrorist attacks.
Only 22 stocks posted gains in the FTSE 100 whilst 77 headed southwards.
Over in the US at midday all the major indices were moderately lower. The Dow Jones lost 73 points to 9270, the Standard & Poor's 500 slipped 9 to 1082 but the Nasdaq fell farthest with a loss of 22 to 1681.
Semiconductor stocks fared poorly after analysts at Lehman Brothers and J.P. Morgan cut
ratings on them. The sector has performed reasonably well of late but bad news is being magnified in the volatile trading climate.
Semiconductor bellwether Intel lost 62 cents to $24.40, Cisco lost 62 cents to $16.32 and Sun Microsystems fell 31 cents to $9.73.
What made financial headlines over the weekend?
The chairman doggedly tries to be amusing
'Profitability is almost a myth'
Active Wealth in liquidation
Cautious welcome for volatility