Pubs give FTSE bad hangover

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The FTSE was down 74.10 this morning at 5692.30 as pub JD Wetherspoon reported a slump in profits.

The impact on the smoking ban and higher labour costs hit profits Wetherspoon said. Shares at Enterprise Inns and Mitchells & Butlers fell on the news. There was also a poor start for miners as metal prices came back. The hardest hit was Vedanta Resouces down 102.00 at 2265.00. At the top of the table, Lloyds RSB ruled the roost up 2.00 at 415.75 and HBOS was up 2.00 at 570.50. The FTSE also suffered from a bad showing from the US where the Dow closed down 214.60 at 12040.39 on recession fears. Walmart was the only stock to make gains, up 0.43 at 49.98. Meanwhile, in Japan the N...

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