FTSE 100 drops under 4,800
FTSE 100 drops under 4,800
Wednesday 2nd September 2009
The FTSE 100 this morning continued yesterday's drop falling under the 4,800 mark.At 09:06 BST the index was down 0.66 per cent to 4,787.65.
This followed a 1.96 per cent drop last night in New York for the Dow Jones and a 2.21 per cent fall for Chicago's S&P 500.
The falls came as concerns grew of the strength of any global recovery.
In London, financial stocks took the heaviest hit – following the falls for banks in the US.
Royal Bank of Scotland was down 6.22 per cent to 52.05p.
Lloyds Banking slipped 5.57 per cent, while Barclays slipped 3.59 per cent.
Legal & General was down 4.77 per cent and miner Kazakhmys fell 4.56 per cent.
Retailers surprisingly saw gains this morning.
Morrisons was up 2.21 per cent, Next rose 1.05 per cent, Tesco gained 1.03 per cent and Sainsbury climbed 1.02 per cent.
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