FTSE 100 declined 0.7% or 39.5 points to 5,908.8.
by Greg Secker on Apr.01, 2011, under Greg's Blogs
UK Report 1st April 2011
UK markets closed lower yesterday, with the FTSE 100 index ending its six-day winning streak, as banks and retailers recorded losses. Stocks tumbled in the last minutes of the trading session, after Ireland stated that its four banks require €24 billion in additional capital. Banks, HSBC, Standard Chartered and Royal Bank of Scotland, lost between 0.8% and 2.3%, as risk aversion increased among investors. Retailers, Kingfisher, Next and Marks & Spencer, dropped between 1.2% and 3.3%, after their mid-cap peer, Mothercare, lowered its full-year guidance for gross margins. Investor sentiments were also dampened by dismal consumer confidence data. However, losses were restricted by gains in some miners and oil producers. FTSE 100 declined 0.7% to 5,908.8. FTSE 250 fell 0.7% to 11,592.0.
