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15/08/2001
Marconi face FTSE-100 relegation
Telecoms company Marconi were in further trouble on Tuesday as the company’s share price fell by 12 per cent.
As a result of the sliding stock many investors believe the company could be relegated from the FTSE-100 index.
The latest crisis came about after concerns about forthcoming profit warnings, an investment bank's downgrade and a threat of a costly lawsuit from angry investors.
On Tuesday the company’s stock, which was valued at 1250p per share less than a year ago, slid below 72p. Investors now fear that further selling will follow if Marconi is booted out of the FTSE-100.
The selling of stock on Tuesday was spurred on by US investment bank Goldman Sachs which slashed its price target for the stock by 65p, adding that the stock should not trade above 74p.
While Marconi's sliding equity price has angered investors, Marconi's debts of £3bn continue to burden the company which slashed 4,000 jobs last month, 1,500 of them in the UK. (MB)
As a result of the sliding stock many investors believe the company could be relegated from the FTSE-100 index.
The latest crisis came about after concerns about forthcoming profit warnings, an investment bank's downgrade and a threat of a costly lawsuit from angry investors.
On Tuesday the company’s stock, which was valued at 1250p per share less than a year ago, slid below 72p. Investors now fear that further selling will follow if Marconi is booted out of the FTSE-100.
The selling of stock on Tuesday was spurred on by US investment bank Goldman Sachs which slashed its price target for the stock by 65p, adding that the stock should not trade above 74p.
While Marconi's sliding equity price has angered investors, Marconi's debts of £3bn continue to burden the company which slashed 4,000 jobs last month, 1,500 of them in the UK. (MB)
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Fears of an economic meltdown recede
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ITV shares begin trading on London Stock Exchange
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ITV shares begin trading on London Stock Exchange
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HMV to float on London Stock Exchange
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HMV to float on London Stock Exchange
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10 September 2001
Stock markets worldwide in steady decline
Sparking renewed fears of a global recession share prices continued to fall worldwide, as global stock markets remained in the grip of a steady decline that only looks set to intensify.
Stock markets worldwide in steady decline
Sparking renewed fears of a global recession share prices continued to fall worldwide, as global stock markets remained in the grip of a steady decline that only looks set to intensify.
07 September 2001
Global stock markets take further tumble
Although the Nasdaq recovered slightly in afternoon trading thanks to some good news in the technology sector, a higher than expected rise in the US unemployment rate served to reinforced the current downward trend in global stock markets. Official data from the US Department of Labour shows that in the US unemployment jumped to 4.
Global stock markets take further tumble
Although the Nasdaq recovered slightly in afternoon trading thanks to some good news in the technology sector, a higher than expected rise in the US unemployment rate served to reinforced the current downward trend in global stock markets. Official data from the US Department of Labour shows that in the US unemployment jumped to 4.
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Northern Ireland WeatherThis Evening and 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.
