FTSE 100 closes lower
Thursday 12th February 2009, 5:17PM GMT.
The FTSE 100 closed 32 points lower at 4,202.24 after a day of grim results from blue-chip firms.
BT Group, which issued its fourth profit warning in six months, topped the list of falling stocks.
Shares in the telecoms company ended 7.98 per cent down on the index.
Several insurers were also in the red, as investors are concerned they will need to raise funds to top up depleted reserves.
Legal & General shares fell 6.8 per cent and Prudential was down 5.95 per cent.
Financial stocks helped offset the losses, with Icap rising 7.34 per cent and Lloyds Banking Group up four per cent.
Joshua Raymond, market strategist at City Index, said: “What we are seeing now is basic bargain hunting, particularly in banks. However, trading remains choppy and largely intra-day, which means the market can turn very quickly.”
In the US, the Dow Jones opened lower on fears the banking rescue plan would not be sufficient to help the economy.
Shropshire Star on Twitter
Keep updated with the latest breaking news and content on our Twitter feed.
Lifestyle
Interactive Dining Out map
Hundreds of reviews by the Shropshire Star and Express & Star's teams to help you decide where to eat.
Entertainment
All the film reviews
Before you plan a trip to the pictures, get our critics' verdicts on all the latest movie releases.
OUR NEW APP
Get the new Shropshire Star app
Download the Shropshire Star’s new app to your iPad or iPhone to get one week of access to our digital newspapers absolutely FREE.
shropshirestar.com
Popular sections
Useful links
