The FTSE 100 looked more stable today, although trading was thin. London's leading index finished ...
The FTSE 100 looked more stable today, although trading was thin. London's leading index finished the day up 61 points to 4943 as it waits for direction from US markets which are currently closed.
Leading the gainers in the FTSE 100 was BAE Systems with a rise of 38.75p to 348.75p. The defense company reported improved first-half profits and buyers moved in on expectations that military spending will increase in the wake of the terrorist attacks in New York City and Washington.
Today's big loser amongst the FTSE 100 was British Airways whose stock slumped to its lowest level for 10 years with a fall of 12p to 196p. Brokers slashed ratings on the stock in the wake of this week's events. Salomon Smith Barney cut its target price from 400p to 215p. Air travel is expected to suffer.
No dignity was spared for companies to be booted out of the FTSE 100. Colt Telecom lost 3%, Energis, fell 3%, Telewest slipped 1%, Marconi declined 2%, Carlton Communications was down 3% and CMG shed 3%.
The New York Stock Exchange was closed again today. US trading may resume on Friday but will definitely be under way by Monday said Richard Grasso, chairman of the exchange. The three day closure is the longest break in trading recorded since the great depression.
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