FTSE down 1.2 pct as credit fears return by Delia Cruceru

FTSE, Britain's leader share index fell with 1.2 pct on Tuesday and today it fell with 1.3 pct. Yesterday the FTSE 100 ended down 75.5 points or 1.2 percent, at 6,143.5 after European shares oscillated between higher and lower in the global markets. Mark Priest, a trader at tradindex.com, said "The markets are down again today and it looks like this credit problem isn't about to go away." Yesterday the stocks ended lower because of the earnings from retailers Wal-Mart Stores and Home Depot were disappointing and credit woes are back again. Banks were also hit because of global fears of tightening credit conditions: the Royal Bank of Scotland dropped with 1.3 percent, Barclays lost 3.3 percent and Standard Chartered fell 2.6 percent. Miners after the gains they had last session, suffered losses because of the low metal prices: Lonmin slipped 100 pence to 3,014, Xstrata was down 81 pence at 2,644, Anglo American shed 74 pence to 2,705, and Rio Tinto was 68 pence lower at 3,107. Market speculations that Danish brewing group Carlsberg were renewed yesterday as they want to bid for the Scottish & Newcastle stocks. Carlsberg spokesman Jens Peter Skaarup said: "There are a lot of rumours in this business among traders, analysts and journalists, but on principle we never comment on this type of thing."

related story: http://uk.news.yahoo.com/rtrs/20070814/tuk-uk-markets-britain-stocks-fa6b408_4.html

by Delia Cruceru for PocketNews (http://pocketnews.tv)

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