FTSE 100 eased 1.1% or 64.1 points to 5,920.0
by Greg Secker on May.06, 2011, under Greg's Blogs
UK Report 6th May 2011
UK markets closed lower yesterday, with the FTSE 100 index suffering another day of heavy losses, as falling commodity prices coupled with dismal results from Lloyds Banking Group and Schroders triggered a selloff among investors. Miners, Vedanta Resource, Kazakhmys and Xstrata, declined between 2.6% and 4.3%, as base metal prices fell. Oil producers, Essar Energy, BG Group and Tullow Oil, fell between 3.2% and 5.2%, as oil prices witnessed its largest one-day percentage decline since 20 April, 2009. Shares of Lloyds Banking Group tumbled 8.0%, after the bank swung to a first quarter loss, while Schroders slumped 9.2%, after its quarterly earnings came below market expectations.
FTSE 100 eased 1.1% or 64.1 points to 5,920.0. FTSE 250 dropped 0.5% or 63.4 points to 11,845.7.
