FTSE 100 hovers above 4,000 mark
Wednesday 18th February 2009, 5:12PM GMT.
The FTSE 100 managed to stay over the 4,000 barrier on closing today, although did fall as low as 3,938.12 earlier this afternoon.
The index fell over 27.3 points to close at 4,006.83, the lowest number since November last year.
Royal Bank of Scotland led the fall, dropping 13.04 per cent to 18p over the day, following speculation the bank may not be able to afford the government’s asset protection scheme.
Insurer Legal & General followed closely with an 11.26 per cent fall, after gains made yesterday on reassurances of its capital strength.
However, several stocks offset the falls, including TUI Travel, which saw shares rise by 5.16 per cent and Liberty International up 5.06 per cent.
Tim Hughes, head of sales trading for IG Index, said: “Early in the afternoon, the UK’s leading blue-chip index hovered just above the 4000 mark. But news that the Bank of England intends to implement quantitative easing measures plunged the index below the watermark.”
US markets also fell on opening on poor housing starts data, and the Dow Jones was off 0.02 per cent.
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