The FTSE 100
But what fallers were there among the greater ranks of the FTSE? Here are three.
The problem is continuing weakness in demand for nitriles, a group of organic chemicals used in adhesives, polymers, and pharmaceuticals, among other applications. This, coupled with a currency-conversion hit, is expected to knock 5 million pounds off full-year operating profit. We should have the full details on June 30.
But with some commentators suggesting the fall in demand for nitriles is only short-term, is this a good chance to buy Yule Catto shares for the longer term? It just might be.
Insure your boiler?
The domestic-emergency insurer Homeserve
Although there was no specific news today, the markets seem to be dissatisfied with the levels of remuneration being paid out to boss Richard Harpin, who, despite having waived his bonus, still pocketed 6 million last year in salary and dividends from his 12% holding in the company.
The FSA investigation continues into the firm, whose shares have now lost 70% of their value in the past year. Are they oversold? Maybe.
High street out of favor again?
It's not a massive drop, but the biggest morning faller on the FTSE 100 was fashion chain Next
This may presage an end to the recent optimism surrounding high-street retail, as Marks & Spencer also fell -- by 1% to 318 pence this morning. Still, this drop only puts Next shares back to the level they were at a week ago, and it comes on top of an overall 40% rise in the share price over the past 12 months. But we have seen big falls from Supergroup over the year, as well as from upmarket rags retailer Burberry in the past few months. Fashion coupled with the high street makes for a volatile combination.
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