News article

FTSE drops 'sharply'

FTSE drops 'sharply'
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The leading index on the UK stock exchange suffered a sharp drop after the bank holiday.

The FTSE 100 decreased by 61.37 points today (Tuesday), or 1.2 per cent at 5,140.19, after the long weekend, Reuters reports.

It has erased the positive results achieved on Friday when there was a 0.9 per cent gain and this lull was also echoed by the Tokyo stocks, which dropped 3.6 per cent today.

Richard Hunter, head of UK Equities at Hargreaves Lansdown Stockbrokers, said: "There has been a concern for some time now that central banks have been running out of ammunition in terms of ways of being able to stimulate the economy."

Stock exchange traders may be interested to hear this news and particularly that energy and mining stocks experienced weakness.

This news comes after last week (August 25th) when Admiral experienced one of the biggest rises on a positive day for the leading index on the stock exchange, which rose by 11.35 points.

Posted by Greg Secker ADNFCR-1681-ID-800044947-ADNFCR