FTSE 100 falls for fourth day

Wednesday, 08 April 2009 12:00

The FTSE 100 fell five points to 3,925.52 as financial stocks continued to weigh on the index.

The index marked a fourth day of losses, as concerns over the upcoming reporting season and lower commodity prices spooked investors.

Financial Times publisher Pearson led the decline, after the company went ex-dividend, falling 5.15 per cent.

Hedge fund Man Group was also in the red, falling 2.65 per cent, while Royal Bank of Scotland dipped 2.25 per cent to just 26.10p.

Supporting the index was insurer Old Mutual, which rose 7.21 per cent, while Smith & Nephew was up by 6.74 per cent.

Ryan Kneale, market analyst at BetsForTraders.com, said: "The market mood is much more sombre this week, with traders prepared to bank their recent profits and sit on the sidelines until the first batch of earnings comes through.

"There will obviously be particular focus on the beleaguered banking sector. It is still too early to put all your eggs in the equity basket and we believe the markets will remain range bound for the next week or two."

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