FTSE moves South again

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The FTSE 100 index fell 54.50 points to 4,412.90 today as stock markets across Europe took in the news of regime change in Spain bringing in a more anti-US minority government.

About 90% of FTSE 100 stocks lost ground, failing to hold onto support after US markets opened sharply down this afternoon, undoing Friday’s gains. British Airways dropped most, shedding 19.5p to 269p even as new figures showed European airlines continue to build passenger numbers on international routes. Rumours suggested Standard Life may have dumped a large tranche on the market, in line with its recently stated goal of reducing the equities exposure of its with profits fund. Royal & Sun Alliance lost 4.25p to 88.75p to lead the insurance sector down. Friends Provident shed 5.7...

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