FTSE 100 falls 3.26%

Thursday, 20 November 2008 12:00

The FTSE 100 fell further today to close below the 4,000 mark as investors remained jittery over the economy.

The index ended over three per cent lower, closing at 3,874.99, below the 4,000 mark.

Insurers and mining stocks led the decline, with Aviva falling 16.77 per cent and Prudential down 16.33 per cent.

Most sectors were depressed but HBOS shares rose by 11.82 per cent after the deal with Lloyds TSB looked more likely to go through.

Royal Bank of Scotland shares were also up by 6.38 per cent ahead of a shareholder vote that is expected to approve the group's request for government cash.

Ryan Kneale, market analyst at BetsForTraders.com, said: "All around us we are seeing growth forecasts slashed, profit warnings, falling sales and job cuts.

"It is grim, really grim, and we are now at the stage where we just have to let nature take its course and ride it out, whilst at the same time trying not to be caught in the crossfire."

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