Newspaper article The Journal (Newcastle, England)

Gloomy News Pushes FTSE 100 Lower

Newspaper article The Journal (Newcastle, England)

Gloomy News Pushes FTSE 100 Lower

Article excerpt

Disappointing consumer confidence figures from the US and the possibility of another interest rate hike in the New Year pushed the FTSE 100 Index lower yesterday. The benchmark index closed 23.1 points lighter at 6208.4.

Pharmaceutical stocks extended their losses amid fears that drug prices in the US would come under pressure following the Democrats' victory over the Republicans in the mid-term elections. GlaxoSmithKline, which bought back 1,700,000 of its own shares at 1381.83p on Thursday, retreated 26p to 1360p.

Shares in housebuilders were boosted by the news that Crest Nicholson had turned down a 585p per share offer from Castle Bidco, a consortium led by Sir Tom Hunter. As a result, Bellway rallied 37p to 1377p while Barratt Developments rose 20p to 1072.5p.

Biofuels Corporation announced yesterday that as a consequence of the tight price spread caused by lower mineral oil prices and the increased cost of vegetable oils and methanol, the company is currently experiencing tighter profit margins. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.