Daily Spread Betting and Financial Market Round-upFinancial markets round-upMonday November 26, 2007
Equities sold off heavily on Monday afternoon in New York, with the major indices all nursing losses of about 2% each. The Nasdaq composite lost 2.14% or 55.61 points to close Monday at 2540.99. The S&P500 index suffered a much worse fate, losing 2.32% in the session, down 33.48 points to finish at 1407.22. The Dow Jones Industrial Average proved to be the most resilient on the day, shedding a relatively better 1.83%. That was still a loss of 237.44 spreadbetting points for the day. The index closed at 12743.44.
In London, blue chip stocks led the market lower as the FTSE 100 index moved 81.6 points lower (-1.3%) on Monday, closing at 6180.5. The FTSE 250 index dropped 0.74% while the techMARK index was 0.89% lower.
The move lower in London followed a bright start sparked by a positive turn in the news concerning Northern Rock as Virgin Group emerged as the preferred bidder for the troubled bank.
FTSE 100 - WinnersNorthern Rock (NRK) British Energy Group (BGY) Tullow Oil (TLW) Rentokil Initial (RTO) National Grid (NG.)
FTSE 100 - LosersBarratt Developments (BDEV) Mitchells & Butlers (MAB) Hammerson (HMSO) Liberty International (LII) Alliance & Leicester (AL.)
FTSE 250 - WinnersParagon Group (PAG) John Wood Group (WG.) Imperial Energy Corporation (IEC) BSS Group (BTSM) DS Smith (SMDS)
FTSE 250 - LosersBiffa (BIFF) Bodycote International Brixton (BXTN) Investec (INVP) FKI (FKI)
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