The FTSE 100 Index closed down 84.4 points, or 1.4%, at 5,791.5 points today, its biggest one-day point fall since 19 October and its weakest finish since 15 February.
Lower oil prices knocked oil heavyweights and analysts forecast a gloomy outlook for the direction of stocks like Vodafone and Alliance & Leicester. Alliance & Leicester slid 4.98% lower to 1,069p as investors took profits on a stock that had gained almost 40% in the four months to the publication of its annual results on Monday. Those figures showed a slim rise in profits. Mobile phone giant Vodafone fell 4.2% to 109p, taking more than 11 points off the index, after analysts cut estimates and target prices on the stock following the company's forecasts on Monday of slowing revenue grow...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes