The FTSE100 fell sharply upon opening this morning, as the leisure sector struggles on gloomy news from Punch Taverns. London's blue chip index is currently 41.70 points lower (0.74%) to 5579.
News pub group Punch scrapped its final dividend to save cash has smashed compatriot Enterprise Inns, 9.76% behind to 277.25. Miner Ferrexpo is lower on a mixed morning for the sector, 3.2% down to 241.75. Travel firm Thomas Cook is also struggling, 3.14% lower to 238.75. A £1bn pension deal with Prudential has boosted Cable & Wireless, up 1.9% to 182.50. Miner Eurasian is 1.51% higher to 942 and BAE Systems is 1.35% ahead to 489.50. In New York, Wall Street closed slightly lower on Tuesday after the Labor Day holiday, after a late decline sent the Dow Jones IA down 26.63 points (0.23%)...
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