After remaining broadly stable in early trade, London shares began to fall after US markets opened with negative sentiment, and the FTSE 100 closed down 75.04 points (1.41%) at 5,236.26.
Wolseley shares climbed 56p (13.53%) to 470p after the firm revealed it would not break its debt covenants, while BG Group added 51p (4.53%) to £11.76. Friends Provident shares dropped 9.1 points (8.75%) to 94.9p, while Man Group lost 35.5p (7.77%) to 433.5p. Share values began to slide again on Wall Street as Goldman Sachs and Morgan Stanley gave up their investment bank status to save themselves from Lehman Brothers’ fate, with the Dow Jones dropping 182.55 points (1.6%) to 11,205.89. AIG continued to recover following last week’s Government bail out, up 0.77 (20%) to $4.62, while Micr...
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