Stay connected:
Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a245658
Friday Morning Market: down again
Markets
by Andrew Zilouf on Jan 31, 2003 at 09:20
Fear is the dominant factor again as Tony Blair prepares to hold a 'war summit' with President Bush at Camp David and investors mull over the impact of a slowing US economy.
The FTSE 100 is down 52 points at 3,525, removing half of yesterday's gains, after the heavy fall on Wall Street last night saw the Dow Jones slump 166 points to 7,945.
Insurers were tumbling again after Moody's downgraded its rating for French insurance giant Axa and fears that Royal & SunAlliance , off 2.5p to 97.5p, could have its rating cut to 'junk' if the market falls much further.
Among the fallers were Aviva (AV.) down 12p to 377p, Legal & General (LGEN) off 2.25p to 75p, Prudential (PRU) 10.75p lower to 364.25p and Britannic (BRT) sliding 5.6p to 109.5p.
Other financials are also struggling with Amvescap (AVZ) down 15.75p to 330p, Schroders voting shares are down 18p at 440p, Lloyds TSB (LLOY) is down 11p at 374p and Abbey National (ANL) fell 10.5p to 392p.
Poor US media sentiment helped push down Reuters (RTR) by 6.25p to 172.25p.
Radio group Forever Broadcasting (FOB) gained 3p to 36.5p as it announced it was in talks with a potential bidder.
Capital Radio (CAP) was pushed down 10p to 385p after losing audience share to Radio 2.
War fears offset Ryanair's news that it is buying KLM's subsidiary Buzz Airlines for a net price of just £3.2 million, knocking the shares down 6.5p to 419.5p.
British Airways (BAY) lowered 5p to 111p.
News sponsored by:
Subscribe to Wealth Manager magazine and rack up CPD points
Citywire Wealth Manager has partnered with CISI to enrich the experience of subscribers to our magazine.
Today's top headlines
More about this:
Look up the shares
- Aviva PLC (AV.)
- Legal & General Group PLC (LGEN)
- Prudential PLC (PRU)
- Brightside Group PLC (BRT)
- AMVESCAP PLC (AVZ)
- Lloyds TSB Group PLC (LLOY)
- (ANL)
- Reuters Group PLC (RTR)
- (FOB)
- Clean Air Power Ld Com Shs USD (CAP)
- British Airways PLC (BAY)
- Safeway PLC (SFW)
- Morrison (Wm) Supermarkets PLC (MRW)
- Alpha Airports Group PLC (AAP)
- Trafficmaster PLC (TFC)
- Speedy Hire PLC (SDY)
Archive
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
Click here to find out more from the Audience Development team.
leave a comment
Please sign in here or register here to comment. It is free to register and only takes a minute or two.