Vodafone, the largest company on the FTSE 100 index by volume, has suffered its biggest loss in seven months along with banking stocks expecting to see profits hit by new accounting rules.
The FTSE 100 struggled to make any headway on Tuesday as profit potential was not good for most sectors, and eventually closed down 33.7 points or 0.7% to 4468.5 while the FTSE 250 index ended flat at 6163 and the FTSE All-Share index dropped 14 points to 2224. Earlier in the day, Vodafone fell to its lowest level since November – having clawed its way back from less than £1 in value – as traders and fund managers are worried the mobile operator may not do as well in future trading under increasing competition. The mobile giant eventually closed the day down 2.75p or 2.2% to 122.75p as f...
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