The FTSE fell 61.1 points, or 1.04%, this morning to 5807.9p as fears over the impact of the US recession on global markets continue.
Pharmaceutical group Shire fell 37 points, or 3.5%, to 953p after an analyst dropped its recommendation to ‘under perform’. Plumbing materials supplier Wolseley fell 25.5 points, or 3.5%, to 707p as it suffers from the ailing US housing market. Mining group Xstrata rose 122 points, or 3.49%, to 3622p following reports Brazilian minder Vale has begun to arrange funding for a $50bn takeover. Carphone Warehouse Group rose 3.75 points, or 1.25%, to 302.75p after reporting a 14% rise in sales revenue. The Dow Jones dropped 171.44 points, or 1.38%, to 12207.17c as American Express suffers fro...
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