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Article: Sea of red puts Footsie on the rocks; MARKET REPORT /CITY BUDGET SPECIAL.
- Article from:
- Daily Mail (London)
- Article date:
- December 11, 2003
CopyrightCOPYRIGHT 2003 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: GEOFF FOSTER
DEALERS' screens were a sea of red before the Chancellor's Pre-Budget report. And they remained red during his fairly bullish view of the growing economy, followed by his sad admission that the UK will have to borrow [pounds sterling]10bn more than he had predicted earlier this year, putting Britain [pounds sterling]37bn in the red.
The flagging Footsie, already 67 points lower five minutes before his speech, closed a miserable 44.2 points easier at 4335.4. Concern about the dollar's weakness and the overseas earnings potential of 40pc or so of the Footsie's constituents had prompted an early sharp markdown.
The dollar had ...