FTSE hits worst run since 2003
The top share index in the UK continues its downward curve, making it the worst run seen in the market for nine years. By the close of trade the index was 0.24 per cent lower, finishing for the day at 5144.
Chris Bradshaw
shareprices.com - Friday, November 25, 2011
The losses continued to be sparked by fears over the eurozone with the German Chancellor, Angela Merkel responsible for the latest ripple of concern. There had been hopes that the German economy would be able to help ease the debt crisis elsewhere in the bloc by agreeing to a Eurobond system or the introduction of stimulus by the ECB but the Chancellor made it clear this would not be approved.
Despite the comments from Germany, the banking and mining sectors managed to revive their fortunes slightly on Thursday. Having sustained heavy losses over the previous eight sessions, they rose by 1.2 and 1.1 per cent respectively.
Silver miner Fresnillo was the third highest climber of the day with a rise of 4.42 per cent whilst Vedanta Resources came in at ninth place with an increase of 2.80 per cent. Royal Bank of Scotland, Barclays and Lloyds Banking Group were also in the top 10 with 3.63, 3.11 and 2.59 per cent hikes.
Outside the blue chips, Thomas Cook was climbing back up the leaderboard after its catastrophic drop earlier this week which saw three quarters of its share price wiped off. It claimed top spot in the midcaps with a rise of 47.03 per cent, but remains still a long way from where it started before it announced it was in crisis talks with its financiers. Its peer TUI Travel continued to be affected by Thomas Cook's fortunes and dropped a further 3.31 per cent.
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News
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