FTSE Unstable, Closes Slightly in the Red
Further backing the speculations that market conditions are volatile and cannot be relied upon just yet, FTSE has been having ups and downs for some time now, and the market experienced a sudden dip today, closing slightly in the red. Stocks of Thomas Cook and Thomson owner TUI Travel saw the biggest slip, topping the FTSE fallers’ board.
It was, however, a more subdued session for "the wider FTSE 100 Index" after Thursday's 1% drop which pulled the index down by 16.3 points, to 5251.4.
While Thomas Cook and TUI Travel recorded falls of 4% each, with the former down 9.3 pence to 209.2 pence and the latter 10.2 pence to 245 pence, respectively, making travel groups the worst hurt, banking stocks were badly hurt as well. Lloyds, Barclays and RBS each dropped by 0.01 pence - 4.15 pence. Nationwide's gloomy outlook for the coming two years contributed to the fall.
All was not bleak, as Cable & Wireless, Johnson Matthey, Old Mutual and Shire recorded substantial gains.
Analysts have been quick to assert that market conditions are very unpredictable and figures can change anytime. Fallers, therefore, can expect to rise soon, and gainers should brace themselves for a possible fall.
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