The FTSE 100 was down at mid morning trade on Monday with a fall of 25 points to 5208 - its fou...
The FTSE 100 was down at mid morning trade on Monday with a fall of 25 points to 5208 – its fourth decline in five days.
Anglo American led the FTSE 100 decline with a fall of 3% to 1161p. The mining business is selling $1bn of five-year bonds convertible into its shares to reduce debts.
EMI also fared poorly with a drop of 10p to 342p. The music business plans to float retail music chain HMV Media which it has a 42.7% holding in.
Tech stocks fared reasonably well with Arm leading gains with a 7p rise to 276p and Logica fared well with a gain of 2p to 426p.
In the US on Friday there were few gains among the key indices. Investor sentiment was hit by a government report that revealed unemployment rose in March, which suggests a recovery in corporate profits will likely disappoint.
The Standard & Poor's 500 slipped 3.61 to 1122.73, which brought its weekly decline to 2.1%. The Nasdaq fell 19.72 to 1770.03 bringing its weekly loss to 4% and marking its fourth consecutive weekly decline.
The Dow Jones managed a modest rise as it gained 36.47 to 10,271.64. The Dow was down 1.3% for the week – its third decline in a row.
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Via The Exchange
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