There's little to spark interest on the FTSE 100, so stocks are struggling to hold ground if negativ...
There's little to spark interest on the FTSE 100, so stocks are struggling to hold ground if negative comments are applied to their future.
Reuters Group is one of those firms suffering and dragging the FTSE 100 down 22.9 points or 0.5% to 4229 after Goldman Sachs cut their ratings in the media group. Reuters has so far off 5.25p or 2.3% to 225.75p.
EMI Group has seen its value fall too by 0.5p or 0.4% to 136.5p after announcing plans to issue £200m worth of convertible bonds, which will convert into company shares.
BAE Systems has seen a small rise in share price as its losses have reduced from £63m to £47m.
One of the smaller listed firms which is doing well this morning is Geest, which supplies salads and other meals to firms such as McDonald's. Thanks to a 2.2% first half rise in profits to £13.7m, their share price has gained 9.5p or 2% to 474.5p.
Asian markets dropped to their lowest level in two months amid fears that firms exporting to the US will see their profits fall again if the US is attacked by Al Quaeda, as threatened.
News reports from Al Jazeera TV yesterday broadcast a message from Osama Bin Laden which has now worried investors that the US economy will slip further if there is another terrorist attack. Nissan Motor Co and Sony were the firms to feel the pinch as the Nikkei 225 index lost 2.9% to 10,546 by close of business.
That said, it may not just be fear generating the decline, as some analysts believe the market is slightly overpriced. Tokyo Electron, the world's second-largest maker of chip-production equipment, lost 6% to Yen8,250 and Advantest, which makes equipment to test memory chips, also fell 5.5% to Yen8,080 yet both firms have seen their shares more than double since the Nikkei's 20-year low in April.
And in the US, the markets closed down after news of the Al Quaeda broke.
The Dow Jones closed down 86.7 points or 0.9% to 9,420 while the S&P 500 index lost 12.25 points or 1.2% to 1,010 and the Nasdaq dropped 49.6 points or 2.65% to 1,823.
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