FTSE threatens to dip below 4,000

After dipping as low as 4,060 shortly after opening, the index staged a mini-fightback to reach the relative safety of 4,080, a drop of 1%. A staggering 20% loss for Stagecoach, which fell 34p to 137p, stood out among the early losses, as did an 8% drop for the London Stock Exchange Group. Firstgroup, the UK's largest bus and coach operator, also suffered. However, the Royal Bank of Scotland, boosted yesterday by a 'buy' rating from Merrill Lynch analysts, was approaching a 5% climb. Man Group and Vedanta Resources also fared well. On Wall St, traders began to reverse an appalling Mon...