FTSE 100 continues to fall closer to 5,000

Friday 2nd October 2009

The FTSE 100 fell back further in early trading on Friday, moving closer back to 5,000.

At 09:03 BST, the blue chip index was at 5,019.04 – a fall of 28.77 points or 0.57 per cent.

This followed a 1.68 per cent drop on Thursday.

Last night in the US, the Dow Jones was down 2.09 per cent and the S&P 500 fell 2.58 per cent.

The falls continued over night in Asia, with the Nikkei down 2.47 per cent and the Hang Seng falling 2.77 per cent.

Into Europe this morning the Dax was down 0.73 per cent and the Cac 40 fell 1.07 per cent – a consensus is forming equity prices have got ahead of themselves over the strength of the recovery.

Back in London drops were led by Legal & General – dropping 4.26 per cent and losing some of the gains put on this week due to takeover speculation.

Lonmin fell 3.32 per cent, Prudential was down 3.21 per cent and Liberty International dropped 2.99 per cent.

Royal Bank of Scotland fell 2.83 per cent to 49.12p.

No stocks managed to climb over one per cent in the first hour.

Security group G4S was up 0.91 per cent, Antofagasta rose 0.90 per cent and Unilever gained 0.85 per cent. ADNFCR-1783-ID-19390027-ADNFCR

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