News of a Fed rate cut in the US has failed to buoy the FTSE in early trading on Wednesday, the index dropping 51.9 points, or 0.93%, to 5553.9.
Experian has made the largest early gains, climbing 10.5p to 370.75, followed by Smiths Group, up 21p to 968p, and Yell Group. However, these gains are being stemmed by significant losses for HBOS down 41.5p, or 8.64%, to 438.75p, and retail group Next, down 66p to £11.13. The Royal Bank of Scotland is also suffering in early trading and has dropped 17.25p in share value to 308.75p. No such trouble in the US, where the Dow Jones is flying after the Federal Reserve intervention. The index climbed 420.41 points yesterday, or 3.51%, to 12,392.66, and not a single Dow Jones company lost...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
