Sovereign Debt Crisis Scares UK Investors

Article excerpt

Byline: Jeffrey Ball

INVESTORS continued to take flight on Thursday, as sustained fears over the sovereign debt crisis and the prospect of it sparking another series of recessions around the world pushed the FTSE 100 Index down 191 points to 5393.

As has been the trend throughout the week, many companies found conditions challenging, with a sparse number able to post positive gains.

Storming ahead of the flailing pack was Randgold Resources with a 6.6% rise to 5920p.

The gold miner reported strong second-quarter results which gave investors a pleasant surprise.

With gold increasingly being perceived as a safe haven as equity markets struggle, Randgold's management stated gold production was up 33% over the quarter.

Settling into silver medal position on the index's leaderboard was Unilever, announcing results for the first half of the year that carried the share price 2.7% higher to 1957p.

A sturdy set of results showed turnover was up 4% to pounds 19. …

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