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Article: City shakes off grim news with net gains The week that was
- Article from:
- The Independent on Sunday (London, England)
- Article date:
- November 17, 2002
CopyrightCopyright 2002 The Independent on Sunday. Provided by ProQuest LLC. (Hide copyright information)
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The strikes, the grim company news, the brewing trouble in the
Middle East: all the ingredients for a week of bleak 1970s-style
misery were there, but the City chose to shake it all off. The FTSE
100 posted net gains for the second week running, and the FTSE 250 -
often a better guide to the health of corporate Britain - remained
nearly flat.
With the results season in full swing, traders had plenty of news
to sink their teeth into. The telecoms stocks provided a large part
of that diet, but the financial sector was also under the spotlight.
The week opened with sharp declines for the big insurance stocks,
with Aviva and Prudential the chief victims. The trigger for the sell-
off was an ...