London open: Footsie takes a pasting

Related Companies

Related Indices

Related Sectors

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Tuesday 08 Jul 2008

  • Market Movers
  • FTSE 100 5,369.00 -2.61%
  • techMARK 1,354.62 -2.04%
  • FTSE 250 8,399.20 -2.60%

LONDON (ShareCast) - There is nowhere to hide this morning from the grim economic situation facing the UK. Footsie is down over 130 points to below 5,400 with every stock in the index in the red.

Lonmin is the best peformer but is still down on the day. The big losers are LSE,Kingfisher and ENRC.

House builder Persimmon is also down even though it does not expect to announce any significant write down of its land values with its next interim results. It has cut 1,100 jobs to save £20m per year. First half sales were £1bn, a reduction of 34% on the first half of last year.

Estate agent Savills says trading conditions for its UK and US Commercial Capital Markets businesses and its UK Residential and Mortgage Broking businesses have continued to deteriorate with volumes down significantly on the comparable period in 2007. Predictions for the full year outcome are "very difficult".

IT services group Morse's chief executive has departed after sales and margins disappointed in the year just ended.

Online gamer PartyGaming says gross revenues have fallen since April due to seasonality and competition from Euro 2008. Casino perfromed strongly, offset by a weaker than expected performance in poker and sports betting. Overall revenues were slightly lower than expected.

A profits warning has also come from windows group Heywood Williams, with full year profit expected to come in significantly below market expectations. Drug developer SkyePharma has lost a quarter of its value as investors grow impatient at the firm's failure to make progress with plans to renegotiate or refinance its convertible bonds.

The few risers include alcohol tester Concateno, which has confirmed a bid approach.

Digital Look have been voted
"Best Research and Informataion Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).

A good trader doesn’t blame
his tools…especially ours

The Marketmaker:Investor Edition Trading Tool Kit worth

£765.00!*

Open a spread betting account with
Marketmaker:Investor Edition today and receive

(Or click here to continue with your normal research on Digital Look)

Please remember that spread betting is a leveraged product and carries a high level of risk to your capital. It is possible to incur losses that exceed your initial investment. This product may not be suitable for all investors, therefore ensure you fully understand the risks involved and seek independent advice if necessary.
Digial Look is an Appointed Representative of CMC Spreadbet plc.