FTSE dials a tone down

Vodafone dropped 7p to 139.50p, after announcing it will buy back £4.5bn worth of shares, while doubling its dividend. The firm says increasing competition in its biggest markets; namely in the UK and Japan, will eat its profitability. Mobile competitor, O2 also shed 2.25p to 124.50p, along with Cable and Wireless, down 3.25p to 128.50p. At the other end of the board, Scottish Power advanced 27.75p or 6% to 469.75p, after US utility firm, Mid American agreed to purchase PacifiCorp for $5.1bn in cash. Emap also profited 30p or 4% to 795p, after reporting a 5% increase in underlying profi...