FTSE 100 heads lower in early trade
FTSE 100 heads lower in early trade
Wednesday 3rd June 2009
The FTSE 100 was heading down in morning trading and dropped by 1.15 per cent to 4,425.37 by 08:45 BST.Insurer Amlin led the falls, dropping by 5.97 per cent, after placing 23 million shares with institutional investors to fund its acquisition of Fortis Corporate Insurance.
Vodafone Group shares also fell, by 4.25 per cent, while National Grid was trading 4.17 per cent lower.
Several defensive stocks were rising on the index, including power firm Drax Group, up by 2.29 per cent, while Imperial Tobacco was up by 1.26 per cent.
Yesterday, US stocks rose for the fourth straight day, with the Dow Jones and the S&P 500 both finishing 0.2 per cent up.
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