Business News

FTSE and pound in sharp fall on London markets

Mar 17, 2008, 19:37 GMT

London - The shockwaves from the fall-out of the dramatic Bear Stearns sale in the US wiped 51 billion pounds (102 billion dollars) off the value of Britain's biggest companies Monday. The FTSE 100 share index tumbled by 3.9 per cent, or 217.3 points to close at 5414.4 Monday, its lowest level for more than two years. Earlier Monday, the Bank of England injected an extra 5 billion pounds into money markets to help stabilize the situation. In Britain, a raft of major banks recorded steep falls on the FTSE index, with Barclays off 9 per cent, Halifax Bank of Scotland down 13 per cent and the Royal Bank of Scotland 9 per cent lower. The credit crunch has now seen the value of Britain's top 100 companies fall by nearly 20 per cent since the FTSE reached seven- year highs above 6,700 in June last year. On the currency markets, the pound fell to 1.27 against the Euro.

On the Web

Blowing Up Blogs

Place your ad here
Loading...

Your Talkback on this Story

Similar articles

Brown: Britain well-placed to withstand financial turbulence
British markets calmer following government intervention (Roundup)
Northern Rock in share tumble amid credit crisis warning (Roundup)
Northern Rock in share tumble amid credit crisis warning
Northern Rock is 'solvent' says statement

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Like M&C on Facebook

Custom Search

Viral Web

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games Herald; XPRNC; Deutschland (Der Technikbote); Deutschland (Bellalu)

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2012 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint