Newspaper article The Journal (Newcastle, England)

FTSE100 Ends Down despite Late Climb

Newspaper article The Journal (Newcastle, England)

FTSE100 Ends Down despite Late Climb

Article excerpt

Byline: Carmen Baylis Brewin Dolphin

GLOBAL equity markets tumbled on Tuesday as the public finances of the Eurozone remain in the spotlight.

The FTSE 100 Index opened firmly in the red and was followed by Wall Street later in the day. There was some relief late afternoon as Ben Bernanke said the Federal Reserve is prepared to do more to stimulate the US economy. The FTSE 100 Index pared back losses but still finished 131 points lower at 4944.4.

Tesco was among the few stocks in positive territory after it announced its intention to sell its F&F clothing range online. Tesco was the FTSE 100 Index' biggest riser and ended the session up 2.6% at 380.1p. Improved profitability, lower net debt and better cash generation demonstrate chief executive Ian Meakins has made good progress as he enters his third year at the head of Wolseley, which published its full year results.

With difficult macroeconomic conditions prevailing, much of the improvement is down to restructuring and other self-help measures. …

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