News that Vodafone is returning to the market for £3bn in a share placing sent the FTSE 100 int...
News that Vodafone is returning to the market for £3bn in a share placing sent the FTSE 100 into the red. Nasdaq's strength yesterday lifted UK technology stocks but it wasn't enough to offset the Vodafone impact.
The FTSE 100 slipped 14.3 points to 5913.7 - Vodafone sliced off around 30 points alone.
Index heavyweight Vodafone led the FTSE 100 fallers and accounted for around a third of the days trading. The market pounced on news that it's to sell £3bn worth of shares to finance its £4.8bn purchase of BT's stake in Japan Telecom and Spain's Airtel. Vodafone shares sunk 8p to 198.5p. Telecom peer Telewest followed, down 4.5p to 134.5p.
Leading the FTSE 100 gainers was software group CMG, boosted by Nasdaq's 2.5% gain yesterday. CMG added 18p to 381p followed by Colt Telecom, up 31p to 966p.
Elsewhere among the tiddlers, shares in Ronson ignited after the lighter manufacturer issued a bullish trading statement. Chairman, Victor Kiam is confident the group will return to profitability and said first-quarter results were better than expected. New products will be available from June 2001 and full-year results should benefit from these sales. The stock bulged 0.25p to 0.8p.
No preferred charging model
To 1,552 families and businesses
HL and Liberty SIPP slowest
Lifetime and annual allowances