28-01-2008
UK share index falls
News by Adfero for Simply Business - independent providers of business insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
Equity markets in the UK fell during early trading today (January 28th).
The decline in UK markets is believed to be a consequence of a weak performance in markets across Asia. Earlier losses in Asian markets have been blamed on concerns over the future prospects of the global economy, in addition to more specific worries over the economic performance of the US, reports the Financial Times.
At the start of trading, the UK's FTSE 100 index had dropped by one per cent, while the FTSE 250 fell further, by a total of 1.4 per cent.
"A recession, which was nothing more than a risk scenario six months ago, is now turning into our main scenario," said Tetsufumi Yamakawa, chief economist at Goldman Sachs in Japan.
Meanwhile, Manus Cranny, a representative from Cantor Index, added: "Today is all about confidence." In Japan, the Nikkei 225 share index finished trading today after falling four per cent, while the Hang Seng declined by 4.3 per cent.
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