Further falls for FTSE 100

Published: 1 August 2008 By MoneyhighStreet Staff Leave a Comment
Updated: 30 November -0001

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The FTSE 100 Index has experienced a fairly uneven day today (August 1st), with a negative opening and several significant falls.

It started the day by dropping 30 points to 5381.60, which came after a fall of almost two per cent for the Dow Jones last night on Wall Street.

At the time of closing today, the FTSE 100 finished at 5354.70.

Shares in high street retailer Laura Ashley fell by 3.0 per cent to close at 21.00 and Photo-Me International fell by 1.0 to end on 13.00. In addition, Avis Europe shares also fell by 1.0 and finished on 12.50.

However, it wasn''t all doom and gloom as Trinity Mirror finished on 100.00 after its share price jumped up by 13.75.

As noted by Sharecast, this had a lot to do with the fact that "Morgan Stanley raised its rating on the newspaper publisher to ''overweight'' from ''equal-weight'' and raised its target price to 130p from 115p".

Reuters, on the other hand, pointed to rises experienced by banks which occurred "after a report said Lehman Brothers may sell mortgage assets".

Moneysupermarket shares increased by 6.25 points to end the day on 94.00, while shares in Barratt Developments rose by 6.0 and the firm finished the day at 101.00

In addition, DIY retailer Kingfisher rose 5.60 points to 124.00 after selling its chain of Italian stores for £440 million to the French-based Groupe Adeo.

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