Newspaper article The Journal (Newcastle, England)

Spain's Economic Woes Hurt Index; FTSE 100 Jeffrey Ball Brewin Dolphin

Newspaper article The Journal (Newcastle, England)

Spain's Economic Woes Hurt Index; FTSE 100 Jeffrey Ball Brewin Dolphin

Article excerpt

Byline: Brewin Dolphin

FOLLOWING the extended bank holiday weekend, investors struggled to build the enthusiasm to push the FTSE 100 Index higher on Tuesday with the market settling one point lower at 5776.

After reaching multi-month highs last week, the index failed to make similar progress as economic data from Spain served to remind shareholders of the troubles still ongoing on the other side of the Channel and beyond. The struggling eurozone power revealed its economy continued to be in recession after shrinking 0.4% in the second quarter of the year.

Within the FTSE 100 index, security firm G4S drew headlines again after it disclosed in its report for the first half of the year an estimated loss in the region of pounds 50m on its London 2012 contract. The figure was based on factors such as the additional cost of deploying extra military and police personnel and potential penalties after the firm failed to recruit enough security guards for the Olympic Games. …

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