Financials drag on FTSE

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The FTSE 100 Index fell 35.10 points, or 0.6%, to 6,161 points today after a string of financial stocks and a poor start on Wall Street weighed on the market.

Northern Rock fell 1.84% to £11.74 following a bearish note on the UK banking sector from Lehman Brothers, which said it expects the sector to under perform both European peers and the UK stock market. Credit checker Experian lost its earlier gains, closing down 2.36% to £5.80, after it reported a 20% rise in third-quarter sales from continuing operations and said it is confident about the outlook for the full financial year. Friends Provident also fell 0.46% to £2.18. Meanwhile, supermarket Wm Morrison gained 6.02% to £2.86 after it reported like for like sales during the six week...

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