US jobs concern causes FTSE 100 to drop

Thursday 21st January 2010

The surprise rise in the number of people in the US making claims for unemployment benefits caused the FTSE 100 to slump considerably on Thursday.

At the close of play the London index stood at 5,335.10, a drop of 85.70 points, or 1.58 per cent.

Leading the drops was the banking sector which responded badly to the unemployment data and Wall Street's poor opening.

The Royal Bank of Scotland Group plummeted 7.05 per cent to 35.32p, with Lloyds Banking Group falling 5.66 per cent.

Barclays also saw its share price slump 5.92 per cent to 283p.

British Airways and United Utilities Group were some of the few companies to register gains on Thursday, with the former rising 3.61 per cent and the latter up 3.24 per cent. ADNFCR-1783-ID-19571276-ADNFCR

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