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21/09/2001
Shares rebound sharply from five-year low
The London share market has rebounded sharply from a period of freefall in early morning trading.
At one point it looked as though investors were prepared to abandon shares in favour of government bonds and other assets viewed as safe bets in time of war, but markets bucked this trend during a fierce turnaround in afternoon trading.
Led by a glimmer of hope from the massive US-quoted conglomerate General Electric, who announced an expectation of strong growth this year, stretched markets rebound from a general crash.
The FTSE-100 almost hit 4,200 points, but afternoon trading managed to break the morning’s vicious selling circle, fuelled by concerns about the future of airlines and spiralling insurance costs. Morning trading saw London’s share values fall over 7% to hit their lowest levels in five years, but the clawback petered out in later trading as shares slipped back again.
The FTSE-100 rose sharply at one point clawing back almost 300 points as mid afternoon trading saw share markets break free of an apparently relentless downward trend in both the UK and the US.
On Friday morning US investors woke up to stare into the abyss with share losses running at nearly $1.2 trillion following panicked trading on Thursday. A resumption of this situation at US opening triggered a further slump in UK markets as the market recycled heightened US fears across the board.
Depressed share values led analysts to write down growth forecasts for next year by at least 25%.
European markets, previously slightly more buffered from the slide, also demonstrated falls as fears of a global recession gathered weight.
The release of a leading German business climate report by the IFO economics institute further pressured shares. The report showed that the most recent future expectations on performance had slumped to a five-year low.
But in perspective, the day’s 7.2% fall on the FTSE-100 was some way short of the 1987 stock crash that bottomed out at almost 11% on one day’s trading. (SP)
At one point it looked as though investors were prepared to abandon shares in favour of government bonds and other assets viewed as safe bets in time of war, but markets bucked this trend during a fierce turnaround in afternoon trading.
Led by a glimmer of hope from the massive US-quoted conglomerate General Electric, who announced an expectation of strong growth this year, stretched markets rebound from a general crash.
The FTSE-100 almost hit 4,200 points, but afternoon trading managed to break the morning’s vicious selling circle, fuelled by concerns about the future of airlines and spiralling insurance costs. Morning trading saw London’s share values fall over 7% to hit their lowest levels in five years, but the clawback petered out in later trading as shares slipped back again.
The FTSE-100 rose sharply at one point clawing back almost 300 points as mid afternoon trading saw share markets break free of an apparently relentless downward trend in both the UK and the US.
On Friday morning US investors woke up to stare into the abyss with share losses running at nearly $1.2 trillion following panicked trading on Thursday. A resumption of this situation at US opening triggered a further slump in UK markets as the market recycled heightened US fears across the board.
Depressed share values led analysts to write down growth forecasts for next year by at least 25%.
European markets, previously slightly more buffered from the slide, also demonstrated falls as fears of a global recession gathered weight.
The release of a leading German business climate report by the IFO economics institute further pressured shares. The report showed that the most recent future expectations on performance had slumped to a five-year low.
But in perspective, the day’s 7.2% fall on the FTSE-100 was some way short of the 1987 stock crash that bottomed out at almost 11% on one day’s trading. (SP)
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Market sees investors desert ailing telecoms sector
It was another troubling day for UK telecoms investors on the London stock market as shares fell sharply in a lively day's trading. Shares in mmO2, the mobile phone operator spun off from British Telecom, have sunk to an all-time low according the latest FTSE 100 figures. The company's stocks fell more than seven per cent to a new low of 56.
Market sees investors desert ailing telecoms sector
It was another troubling day for UK telecoms investors on the London stock market as shares fell sharply in a lively day's trading. Shares in mmO2, the mobile phone operator spun off from British Telecom, have sunk to an all-time low according the latest FTSE 100 figures. The company's stocks fell more than seven per cent to a new low of 56.
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ITV shares begin trading on London Stock Exchange
ITV plc, the company formed on the merger of Carlton and Granada, has launched its shares on the London Stock Exchange. All dealing in Carlton and Granada shares concluded on Friday's close, while ITV plc shares opened at 141 pence, reaching 146.25p by 4pm.
ITV shares begin trading on London Stock Exchange
ITV plc, the company formed on the merger of Carlton and Granada, has launched its shares on the London Stock Exchange. All dealing in Carlton and Granada shares concluded on Friday's close, while ITV plc shares opened at 141 pence, reaching 146.25p by 4pm.
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St George's Market To Celebrate 120 Years Of Trading
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01 March 2002
Trinity Mirror to make second wave of job cuts in a year
Leading UK newspaper publisher, Trinity Mirror has announced plans to shed 300 jobs within the group. The news came as the company reported a near five per cent rise in turnover for the 12 months to December despite what it described as one of the toughest trading periods in its history.
Trinity Mirror to make second wave of job cuts in a year
Leading UK newspaper publisher, Trinity Mirror has announced plans to shed 300 jobs within the group. The news came as the company reported a near five per cent rise in turnover for the 12 months to December despite what it described as one of the toughest trading periods in its history.
18 October 2001
FTSE dives as anthrax fears hit home
The FTSE, along with other European shares, dipped sharply as concern heightened that the anthrax scares would dent consumer and investor confidence.
FTSE dives as anthrax fears hit home
The FTSE, along with other European shares, dipped sharply as concern heightened that the anthrax scares would dent consumer and investor confidence.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
