FTSE drops as Greek deal leaves long-term questions
The leading share index in the UK dropped on Tuesday as investors eyed the details of the Greek bailout deal with caution. By the close of trade, the FTSE 100 had fallen by 0.3 per cent, shedding more than 17 points to reach 5928.
Chris Bradshaw
shareprices.com - Wednesday, February 22, 2012
After a late night session lasting 13 hours in total, a deal has been thrashed out which will prevent Greece from descending into a messy default next month and sees an addition £110 billion of aid handed to them. But despite the immediate respite from widespread eurozone problems, the market was less than impressed with the package with experts pointing to unrealistic targets and calculations based on an unachievable debt reduction.
The volumes of trade also dropped to just 93 per cent of the average 90 day volume, highlighting investors' reluctance to enter the market.
However, bucking the trend was Vedanta Resources which posted a whopping rise of 7 per cent as rumours of a radical restructuring circulated, sparked by an announcement from the miner that it would be looking to 'simplify and consolidate' its internal structure.
The miners enjoyed a good day overall, rising in tandem with metal prices with Kazakhmys and Anglo American both in the 10 strongest performers of the day, with increases of 1.39 and 0.95 per cent respectively.
At the opposite end of the leaderboard, Tullow Oil endured a miserable time, losing 3.62 per cent after the oil firm admitted that it would have to carry further exploration work on one of its potential well sites.
Latest News
- FTSE climbs as EU summit approaches
22 May 2012 - FTSE climbs as markets calm
22 May 2012 - FTSE falls further as ratings agency action worsens fears
20 May 2012
Related News
- FTSE steady as UK faces new recession
26 Apr 2012 - FTSE jumps as miners boost
26 Jan 2012
FTSE 100 Latest
| Value | Change |
| 5,403.28 | 98.80  |
Create a Watch List 
Track your favourite stocks
Create & monitor portfolios
Daily portfolio value
News
- FTSE climbs as EU summit approaches
22 May 2012 - FTSE climbs as markets calm
22 May 2012 - FTSE falls further as ratings agency action worsens fears
20 May 2012 - FTSE plummets further as Greece dominates markets
17 May 2012 - Greek crisis continues to pressure markets
16 May 2012 - FTSE plunges further as Greece heads for the polls...again
15 May 2012 - FTSE nosedives over Greece concerns
15 May 2012 - Late surge for FTSE to finish in the blue
14 May 2012 - FTSE breaks losing streak; aid reached Greece
10 May 2012 - FTSE crashes further over Greek uncertainty
9 May 2012
