Financials got slammed in London today as oil prices continue to rise and global economy concerns mount. The FTSE 100 closed on 6586.10, a drop of 135.50, or 2.02%.
Northern Rock once again led the losses, on speculation it will again ask Lloyds TSB to take it over. The stricken lender closed down 12.50 points, or 6.78%, to 172. Barclays and Alliance & Leicester also experienced significant tumbles, dropping 5.38% to 571.50 and 4.87% to 752 respectively. Smith & Nephew fell after it announced its Q3 profit decreased 86%; it closed 32 points lower, or 4.93%, to 617.50. Unilever is fared much better after announcing its growth momentum was sustained and is broadly in line with markets. The consumer goods giant closed 71 points higher, or 4.37%,...
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