FTSE 100 falls 1.75%

10-07-2008

FTSE 100 falls 1.75%
Volatility continued to reign in London this morning with the FTSE 100 falling 1.75 per cent in the first hour of trading.

At 9:00 BST the index stood at 5,435.80 down 94 points – following a helter-skelter week with slumps and jumps characterising trading.

The London fall followed similar drops on Wall Street last night amid renewed fears over the financial sector – with both the Dow Jones and Nasdaq sliding over two per cent.

This morning the only rises on the FTSE 100 were Experian (up 2.63 per cent) and Man Group (up 0.42 per cent) – both rising on good results released today.

ITV led the falls, down 6.28 per cent – losing gains made yesterday - as advertising revenue is expected to fall.

Associated Foods fell 4.49 per cent after reporting sugar profits would not grow, while retailer Kingfisher fell 4.21 per cent.

Tullow Oil and Carphone Warehouse fell 4.1 per cent and 4.09 per cent respectively.

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