New Year gains erased as FTSE tumbles

Financials were most prominent in the downward trend although bus and train company FirstGroup is currently bottom after dropping more than 16%. Revenue growth at its North American bus arm, Greyhound, fell in Q4 2008, sparking the drop. Barclays is also a contender for the bottom spot having so far fallen 14.29% after news it was to double the original number of job cuts to 4,200. RBS and HBOS both continued to struggle, losing 14.48% and 11.60% respectively. Wall Street has also reacted badly to the retail data which showed sales were worse than expected in December. The Commerce ...