First falls in a week as financials hit FTSE

clock

The FTSE 100 retreated for the first time in seven days this morning as financial stocks fell out of favour.

London's blue chip index was down more than 21 points, or 0.48%, to 4,460, led by the London Stock Exchange Group, which goes ex-dividend today. Barclays, Man Group and Standard Life were also bottom five performers this morning, down 2.2% to £3.03, 1.7% to £2.75 and 1.59% to £1.92 respectively. In the US, the Dow Jones closed up 67.8 points, 0.77%, at 8,915, despite a sudden drop earlier in the day sparked by comments from Federal Reserve chairman Ben Bernanke about the prospects of a US economic recovery. However, better-than-expected Q2 results from mining equipment producer Cat...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

More than half of IFAs feel negative about a potential Labour govt

More than half of IFAs feel negative about a potential Labour govt

Advisers favour Conservatives when it comes to their clients and business

Isabel Baxter
clock 09 May 2024 • 2 min read
Elections and advice: Planning in political and legislative uncertainty

Elections and advice: Planning in political and legislative uncertainty

‘It should not be based on speculation, always plan on current legislation’

Isabel Baxter
clock 08 May 2024 • 3 min read
'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read