FTSE closes the day down again
At close the FTSE 100 stood at 3947.78 down 366.02 points
The DOW fell off in early trade - but then again that news will hardly be shocking to most market watchers after the week of turmoil it has seen. Th NASDAQ, at time of writing was actually in positive territory.
Preseident Bush, in an address from the rose garden at the White House sought to reassure the American public, by saying that the U.S. government was moving aggressively to address the financial markets crisis.
He did however note that anxiety was feeding the current round of plunges.
Companies reporting in London today include Admiral, Renishaw and Printing.com
Motor insurance group Admiral said it was on track to hit or exceed analysts’ consensus profit estimates for 2008. It has seen premium income and vehicles insured grow at a double digit pace.
Obviously financials will be in focus again today, but energy stocks could also feature as oil prices fell back by $4 to $82.5 a barrel. Miners will also see pressure again as base metals prices slid.
According to the Daily Mail, Philip Green, the owner of Bhs has taken a 3% stake in Sainsbury’s for around £125m.
Iberia has taken full advantage in the drop in British Airways share price by more than doubling its stake to 7.3% over the course of the last 3 weeks according to the FT.
Renishaw, the world leader in metrology and spectroscopy, with research, development, manufacturing, sales and service operations in more than 30 countries, has seen Q1 revenues up 24%.
It remains encouraged by its order book and says its performance was helped by weakness in sterling.
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