In London, shares fell as news of Northern Rock's emergency loan continued to rock the banking sector and the FTSE 100 lost 92.7 points, or 1.47%, to 6,196.6.
Sage Group was the only company to make significant gains, with shares rising 5.75 points, or 2.36%, to 249p. Resolution added 5 points, or 0.78%, to 642p, followed by Reed Elsevier, up 3.5 points, or 0.58%, to 611.5p and SABMiller shares gained 1 point, or 0.08%, to £13.27.
Northern Rock shares continued to fall and now sit at around a quarter of their value six months ago, down 120.5 points, or 27.51%, to 317.5p. Alliance & Leicester shares fell 71 points, or 8.13%, to 802p, while Hammerson lost 50 points, or 4.29%, to £11.16.
On Wall Street, hopes of an interest rate cut from the Fed this week boosted shares and the Dow Jones closed up 17.64 points, or 0.13%, to 13,442.52.
Alcoa made the biggest gains, up 1.06, or 3.08%, to 35.48, followed by General Motors, which jumped 0.93, or 2.79%, to 34.22. McDonald’s added 1.15, or 2.12%, to 55.45, United Technologies were up 1.12, or 1.49%, to 76.14 and Coca-Cola shares gained 0.53, or 0.95%, to 56.40.
American Express shares fell 1.66, or 2.74%, to 58.94, Intel dropped 0.42, or 1.66%, to 24.93 and AT&T lost 0.33, or 0.81%, to 40.44.
If you would like to comment on this story, contact:
Tel: 020 7034 2682
e-mail: [email protected]
No preferred charging model
To 1,552 families and businesses
HL and Liberty SIPP slowest
Lifetime and annual allowances