FTSE slides as financials drop

Old Mutual was one of the biggest fallers down 6.28% at 132.80 while Alliance and Leicester dropped 46.50 points to 736 as financial stocks were knocked by a fall in Fortis's share price. This morning’s gains for mining stocks were also lost following Anglo American’s decision to shut down coal production in South Africa. However, the effects of George Bush’s $150bn relief plan continue to be felt in the US which opened strongly. The Dow Jones was up 68 at 12,447 while the S&P 500 rose 11 points to 1,363. IFAonline