The euphoria sparked by yesterday's news of pending interest rate reductions in the US and this morn...
The euphoria sparked by yesterday's news of pending interest rate reductions in the US and this morning's news that internet switch maker Cisco was improving earnings again gave way to pessimism after bad news involving two of the Dow Jones Industrial Average's 30 members (SBC Communications and Philip Morris). Here, it was software and banking stocks the led the index down 36.6 points to 4,094.40. Sage lost 7p to 115.75p and Royal Bank of Scotland shed 80p to £14.50 after acknowledging in its results out today that bad loans provisions were being stepped up. HBOS and Abb...
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