FTSE 100 slumps 2.19 per cent
Tuesday 10th February 2009, 5:17PM GMT.
The FTSE 100 slumped 2.19 per cent, breaking a five-day rally as further concerns about the world economy rattled investor confidence.
Stocks across all sectors fell, with investment services firm Icap leading the decline, dropping by 9.62 per cent.
Mining companies Kazakhmys and Xstrata followed closely, falling 8.4 per cent and 7.99 per cent respectively.
After climbing slightly in the morning, shares on the index plunged later in the afternoon following a slump in US stock markets.
The Dow Jones index fell 3.49 per cent soon after opening, amid concerns President Obama’s bank rescue plan will not be enough to prop up the ailing economy.
The outlook is also gloomy in the UK, after a poll of surveyors showed buyer interest in homes is not translating into sales.
Despite the overall fall, several stocks rose on the FTSE 100. Utility Centrica jumped 4.02 per cent on bid talk, while British Airways was up 2.01 per cent after Merrill Lynch added the airline to its Europe 1 list.
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