FTSE 100 falls further

Wednesday, 16 July 2008 12:00

The FTSE 100 continued yesterday's fall this morning as the bears pushed down a brief opening fillip.

At 9:39 BST the index stood down 0.38 per cent - after yesterday's 2.2 per cent fall - to 5,154.00.

Banks continued to feel the pressure - with Royal Bank of Scotland falling 7.53 per cent, HBOS down 4.32 per cent, Barclays falling 4.32 per cent and Lloyds TSB dropping 3.75 per cent.

London Stock Exchange Group slid 3.88 per cent.

However, there were some gains to be seen.

Admiral Group rose 7.15 per cent after an upbeat note on the insurer from UBS.

Smith & Nephew was up 2.92 per cent, Severn Trent climbed 2.36 per cent, ICAP rose 2.03 per cent and United Utilities was up 1.86 per cent.

Outside the FTSE 100, JD Wetherspoon was up 5.15 per cent on promising sales data, while Bluebay Asset Management rose 16.43 per cent on news its assets under management had grown.

Meanwhile Trinity Mirror dropped 21 per cent as fears of an advertising drop continued.

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