Newspaper article The Journal (Newcastle, England)

Attention on US as FTSE Hits Negative Territory; FTSE 100

Newspaper article The Journal (Newcastle, England)

Attention on US as FTSE Hits Negative Territory; FTSE 100

Article excerpt

Byline: annabel breakey Brewin Dolphin

THE FTSE 100 Index finished the week in negative territory, closing down 52.9 points at 6512.7.

Investors focussed on negative news flow coming from the US, in particular whether the debt ceiling can be raised. Failure to increase the debt limit could lead to a downgrade of the US Government's credit rating. Derek Hamilton, a global economist at Waddell & Reed Financial Inc. said: "The economic data does seem to be improving, but with the overhang from Washington, that clouds the outlook for the immediate future."

THE JOURNAL " One constituent that managed to buck the downward trend was engneering company IMI, the engineering company. The firm announced on Friday it has appointed Mark Selway as the new chief executive, in order to replace Martin Lamb who has decided to step down at the end of 2013. The share price gained 16p to close up at 1469p.

NORTH INDEX Shares in Persimmon, the housebuilding company, fell 4. …

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