Late dive as FTSE 100 follows Dow

Monday 26th October 2009

With a late sell-off matching drops in New York, the FTSE 100 closed down 0.88 per cent today.

After spending most of the day around the opening price, the London index closed down 46.13 points to 5,196.44.

The Dow was down 0.91 per cent to 9,881.49 at 12:50 EDT (16:50 GMT).

In London, Lloyds Banking was down 7.16 per cent to 89.34p and the Royal Bank of Scotland was down 5.65 per cent to 44.42p as concerns over rights issues and the government's toxic asset protection scheme maintain.

British Airways was down 4.81 per cent as the threat of strikes hit and Carnival fell 4.23 per cent.

Cable & Wireless was up 3.26 per cent, with silver miner Fresnillo gained 1.72 per cent.

Bunzl rose 1.53 per cent and Hammerson gained 1.28 per cent.

Markets in Europe also saw sell-offs – with the Dax down 1.72 per cent and the Cac 40 falling 1.68 per cent.

On the currency markets, sterling was up 0.18 per cent against the dollar to $1.6334 and up 0.79 per cent against the euro to €1.0952.
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