FTSE ends Thursday in bear market
The FTSE 100 share index fell into a bear market on Thursday. By the end of the day the index had fallen 2.2 per cent by 122.8 points to 5,406.8.
FTSE gains as metals spur minersBanks were down with Barclays, HSBC, Lloyds TSB and Royal Bank of Scotland down 1.4 to four per cent. Midcap Bradford & Bingley however rose 4.6 per cent.
Oil firms were down with BG Group falling 3.7 per cent, BP down 2.1 per cent and Royal Dutch Shell down 2.5 per cent.
Other losers included travel firm Thomas Cook, down 9.2 per cent, Cadbury who fell 7.5 per cent, ITV down 6.7 per cent, Kingfisher down 5.3 per cent and The London Stock Exchange who dropped 3.6 per cent. Midcap firm F&C Asset Management also saw its share values decline over 28 per cent.
Despite the losses there were some gainers. Credit information firm Experian rose 7.9 per cent after announcing a one per cent rise in first quarter revenue.
Housebuilders also made gains with Barratt Developments and Taylor Wimpey up 24 and 15.7 per cent respectively. Barratt today announced it would be cutting 1,200 jobs.
- 1 RBS gets Chinese approval for Suzhou stake
- 2 June retail sales fall less than expected
- 3 Citi ends talks with Wells Fargo on Wachovia
- 4 Coordinated rate cuts spark Asia stocks rally
- 5 Dollar rally unstoppable
- 6 UK and Iceland in row over bank deposits
- 7 Iceland regulator takes control of Kaupthing bank
- 1 Dollar rally unstoppable
- 2 Markets nervous on return of short sellers
- 3 Lehman demise could end speculative raid on taxpayers
- 4 AIG in focus as financial meltdown spreads
- 5 Goldman and Morgan Stanley face biggest test
- 6 Lloyds says no comment on report of HBOS deal renegotiation
- 7 Rate cut to be passed on to savers
- 1 FTSE seen opening more than 6 pct lower
- 2 Panic strangles Asia stocks but yen firm
- 3 Coordinated rate cuts spark Asia stocks rally
- 4 FTSE slides as fear mounts
- 5 Government won't tell Bank to cut rates
- 6 Stocks off 5 pct, yen surges as crisis spirals
- 7 World stocks fall but calm returns after sell off
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