Newspaper article The Journal (Newcastle, England)

Rise in Jobless Figures Drags Down FTSE

Newspaper article The Journal (Newcastle, England)

Rise in Jobless Figures Drags Down FTSE

Article excerpt

Byline: Jeffrey Ball

WEDNESDAY saw the FTSE 100 Index drop 8.4 points to end the day at 5509 points after the Office for National Statistics released unemployment figures for the three months to September that revealed unemployment had increased by 129,000 to 2.62 million, a rate of 8.3%.

The jobless total for 16-24 year olds drew headlines as it breached the one million mark, with the total of 1.02 million representing a youth unemployment rate of 21.9%.

Within the FTSE 100 Index, Intertek, which provides quality and safety services, delivered financial results for the first 10 months of 2011.

Despite economic turbulence, all divisions reported good organic revenue growth, with total reported revenue growing 26% over the period. With a 3.5% rise, its share price topped the risers within the index to close at 1952p. Voice and electronic interdealer broker ICAP released half year results showing group revenue remained constant at pounds 867m and Electronic turnover had increased by 5% to pounds 160m. …

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