News of a cut in interest rates has failed to prevent the FTSE 100 from dropping this afternoon, the index slipping 18 points, or 0.28%, to 6,475.8.
The London Stock Exchange Group leads the day’s winners, climbing 67p, or 3.72%, to £18.70. It is followed by Smith & Nephew, up 20.5p, or 3.6%, to 589.5p, and Friends Provident, up 5.5p to 163p. However, these gains were stemmed by significant losses for Persimmon, down 43.5p, or 5.46%, to 752.5, Kingfisher, down 6.6p to 151.7p, and Barratt Developments, down 19.25p, or 4.12%, to 448.5p. The Dow Jones rose 0.36%, or 48.37 points, to 13493.33c as American International Group rose after its chief executive officer said the company can keep its devalued holdings until the market recovers. ...
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