FTSE down as banks suffer the Bernanke effect

Laura Miller
clock

London trading got off to a shaky start this morning after the Fed warned of a fragile recovery in the US.

The FTSE opened down 9.88 points, or 0.19%, to 5,300.78, with financials worst hit. RBS shares fell 2.33% to 32.23p per share in early trading, while Barclays dropped 1.7% to 292p. Miners Xstrata were among the biggest losers, down 1.49% to £10.56 per share. Supermarket giant Tesco saw its shares slip 1.5% to 429.10p on news of lacklustre sales figures. Like-for-like sales rose just 2.8% in the three months to November, slightly below expectations of a 3% increase, as the group battles with stagnant food price inflation. Across Europe banks suffered on the news from the Fed ...

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

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read
Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read