The economy is expected to lose £1.2bn both on Monday and Tuesday and smaller losses during the rest of the week due to the biggest snow storm in almost 20 years. It is assumed that 20% of the UK workforce (6.4 million people) were off work today because of current weather conditions. Even the London Stock Exchange was struggling with trade volumes as workers struggled to overcome problems with the public transport.
Archive for the ‘FTSE 100’ Category
Snow is bad for business!
Monday, February 2nd, 2009Cost of world shares turmoil is £2.7 trillion
Thursday, February 14th, 2008Investors are bracing themselves for one of the most difficult years in stock market history after new figures showed more than $5 trillion (£2.7 trillion) was wiped off the value of shares across the globe in January alone. The loss represents one of the worst starts to a year since records began - a stark indication that markets anticipate a global recession that could last for several years. In London, the FTSE 100 lost £77bn in one day alone - 21 January - in frenetic dealing dubbed a second Black Monday after the great crash of 1987. Although shares have since stabilised somewhat, there is still turmoil in the banking and finance sector.
Northern Rock kicked out of FTSE 100
Friday, December 14th, 2007In the UK, Northern Rock’s shares (Britain’s fifth largest mortgage bank) have been the worst hit by the credit crunch dropping from £12 early in the year to less the £1. It will be relgated later this month to the bottom of FTSE 250 index for medium sized companies. Just narrowly missing the index that tracks small sized companies.
