Listed UK companies held their value until the last hour of trading when fears of higher interest rates in the US started driving down shares after the opening there, leading the FTSE 100 to a 39.40 points fall to 4,424.70.
Yesterday’s Federal Reserve interest rate hike coupled with news today of record US private sector house building sent investors back to the calculators to decide when the next rate increase might come. Some 84 FTSE 100 stocks made losses by the close. Sainsbury led the fall after announcing this morning its chairman was leaving, sending shares down 16.25p to 268.5p. Reuters suffered an analyst downgrade, ending the day down 15p at 355.5p. United Utilities shed another 10p to 508.5p after losing ground for the third day in a row. Higher interest rates have hit confidence in bank...
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