FTSE loses ground.
Investors Chronicle - magazine and web content, February, 2008
Profit-taking after yesterday's rally and weakness in the banking sector take their toll. Jonas Crosland
Leading shares have continued to lose ground this morning after weak results from Bradford & Bingley depressed the financial sector. By lunchtime, the FTSE 100 index was off 69 points at 5,841, while the FTSE 250 index was 148 points lower at 9,892. Trading volume was once again below average at GBP872m.
Financial stocks came under pressure, FT.com reports, as Bradford & Bingley kicked off the bank reporting season in worrying fashion. The mortgage lender revealed GBP225.6m of impairment charges related to structured investment vehicles, CDOs and other one-off losses and admitted it had been "an eventful and difficult year for the banking sector"...
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