The FTSE 100 index fell 53.30 points to 4,516.20 as investors mulled over the lower sales and profits that rising interest rates will bring following the latest hike in the base rate by the Bank of England.
90 index members lost ground, including Vodafone which shed 2.75p, or nearly 2% to 140.75p – the company traded near £4 at its peak in 2000. British Airways lost most, shedding 11.25p to 268.75 after several European competitors reported losses because of increasing competition to fill seats. Royal & Sun Alliance led the insurance sector down, dropping 3.25p to 77.75p, its lowest in 13 months. Royal Bank of Scotland did better, adding 17p to 1,642p, rebounding from its drubbing yesterday sparked by the announcement of a major US acquisition. Still strong oil prices helped BP and Sh...
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