Thursday, 7th August 2008
4:47pm
END-OF-DAY REPORT: Headline shares ended the session marginally weaker, after Wall Street opened sharply lower with insurers and real estate investment trusts in under pressure and offsetting strength in the heavyweight mining sector.
At the close of play, the FTSE100 was down 8.6 points at 5,477.5 with the FTSE250 off 42.8 points at 9,088.7 and the FTSE Smallcaps 3.6 points lower at 2,799.3.
NEW YORK
Wall Street remained weaker, albeit off its lows, as a surprise increase in pending home sales overshadowed a jump in weekly unemployment claims and disappointing same-store sales from Wal-Mart Stores.
At London's close, the Dow Jones Industrial Average was down 119.2 points to 11,536.2, off a low of 11,489.4.
LONDON MARKETS
In the UK, on the macro front, the Monetary Policy Committee kept interest rates on...
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4:17pm
US stocks were sharply lower in early deals after the government said jobless claims climbed last week, insurance giant American International Group Inc. reported a large loss, and Wal-Mart Stores Inc.'s sales results weighed on sentiment.
Off more than 150 points early on, the Dow Jones Industrial Average was more recently off 92.41 points at 11,563.66.
Of the blue-chip index's 30 components, 22 were trading in the red, the losses paced by AIG, which was down 15.5% after the insurance giant reported $5.36 billion in mortgage-related losses.
The S&P 500 shed 8.5 points to 1,280.69, with all but one of its 10 industry groups on the decline, led by consumer discretionary and financials, with both sectors off 1%.
The technology-laden Nasdaq Composite declined 8.73 points to 2,369.64.
On the New York Mercantile...
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3:32pm
MIDAFTERNOON REPORT: Headline shares were flat in midafternoon trade, after Wall Street opened sharply lower with insurers and real estate investment trusts in under pressure and offsetting strength in the heavyweight mining sector.
At 3:00pm, the FTSE100 was up 1.2 points at 5,487.3 with the FTSE250 off 49.8 points at 9,081.7 and the FTSE Smallcaps little changed at 2,802.6.
NEW YORK
Wall Street opened lower after jobless claims rose to its highest since March 2002 and Wal-Mart Stores reported disappointing same-store sales, raising more concerns about a slowdown in consumer spending.
In opening trades, the DJIA index was down 133 points at 11,522.1 .
LONDON MARKETS
In the UK, on the macro front, the Monetary Policy Committee kept interest rates on hold at 5% as they continue to grapple with the...
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2:47pm
US stocks started sharply lower today after the government said jobless claims climbed last week, insurer American International Group Inc. reported a large loss, and Wal-Mart Stores Inc.'s sales results disappointed.
The Dow Jones Industrial Average fell 111.46 points to 11,544.61. The S&P 500 dropped 9.59 points to 1,279.6, while the Nasdaq Composite shed 16.43 points to 2,361.94.
To be updated........
Story supplied by MoneyAM
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12:32pm
MIDDAY REPORT: Headline shares were slightly higher at midday, shrugging off expectations of a lower start on Wall Street and led up by the mining sector in the wake of firmer metals prices and excitement over yesterday's Lonmin bid news.
At high noon, the FTSE100 was up 19.5 points at 5,505.6 with the FTSE250 off 40.9 points at 9,090.6 and the FTSE Smallcaps 5.2 points better at 2,808.1.
NEW YORK
In the US, spread-bettors IG Index expect the Dow Jones Industrial Average to open around 48 points lower at 11,608, after closing up 40.3 points at 11,656.1 on Wednesday.
LONDON MARKETS
In the UK, on the macro front, the Monetary Policy Committee kept interest rates on hold at 5% as they continue to grapple with the twin evils of soaring inflation and a flagging economy.
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