Dreary FTSE dips 1.6%

BT Group was the biggest loser, down 8.08% off the back of news its results for the third quarter dropped 81%. It also issued the fourth profits warning in the space of six months. Meanwhile, Rio Tinto was also down 7.82% after announcing a 7% fall in 2008 profits. It has also been affected by the news it is accepting a $19.5bn investment from Chinese state-owned Chinalco. However, medical device maker Smith & Nephew managed to push ahead into the black this afternoon, after announcing its full-year sales met expectations. It was trading up 5.95%, or 30.5 points, to 543.50p. Other sto...