The FTSE dipped under 6000 at the close of the week, down 5.90 at 5959.80
A weak showing from the US was a drag on stocks although there were winners including Schroders (up 38.50 to 979.00) and Rentokil Initial (up 2.80 at 83.70) as it recovered from yesterday’s profit warning.
However, Capita fell 16.00 to 666.50 despite posting a 19% rise in underlying pre-tax profits for last year. HBOS also fell by 16.00 to 619.00.
Comments from the Fed chair Ben Bernanke that the consumer is being hit, contributed to a poor showing for US markets yesterday. The Dow Jones closed 112 lower at 12,582 while the S&P 500 fell 12 to 1,367.
In Japan, the market also dropped after the yen strengthened to an almost three-year high and investors reacted to slower than expected economic growth for the US in the last quarter. The Nikkei 225 fell 322.49 as property-related companies also slumped after K.K. DaVinci Advisors issued stock-diluting warrants, prompting speculation others will follow.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till