The FTSE 100 index of leading UK shares went on a roller-coaster ride today, at one point rising more...
Mixed reactions to US company results again played to market jitters as investors pulled one way then the other.
There were more gainers than losers in the FTSE today - 55 to 44 - but the fact the index closed down indicates that the losses were heavier than the gains.
Media stocks figured prominently among the losers, with Granada down 10p to 128p and Reuters down32p to 647p.
Financial institutions also took a beating, Standard Chartered down 32.5p to 661p and Friends Provident down 9p to 191p.
Great Universal Stores lost 35p to 483p.
Telecoms had a bad day too as BT, Cable&Wireless and Vodafone all headed south.
Technology showed some resilience, however, as both Logica and Sage made the top five list of gainers.
British Airways continued its yo-yo relationship with investors, as it put on 7.75p to 167.25p, as the German government said it would provide another months' worth of insurance for its airline industry, setting the stage for further subsidies.
BA would otherwise have been hit by the news that the United Airlines declared a massive loss in its last quarter, despite a $500m bailout by the US government.
Othewise, US markets reflected London's story, with tech-heavy Nasdaq up and the Dow Jones Industrial Average down on their respective opening levels.
The FTSE 250 index of mid-cap shares and the TechMARK index of UK technology stocks were both up by the close as investors stayed positive on the long-term message that markets should recover.
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