London shares close weaker, off lows, on UK rate worries; New York turns mixed |
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Wed, 18 Apr 2007 17:03
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LONDON (Thomson Financial) - UK blue chips closed weaker today, but off session lows as Wall Street turned mixed after opening falls as a batch of US earnings news was assessed, with interest rate hike worries remaining a drag in London after minutes from the last BoE MPC meeting showed a split decision in April, dealers said.At the close, the FTSE 100 index was 48.4 points weaker at 6,449.4, off the afternoon low of 6,440.8 having stayed in the red all session.All the broader FTSE indices ended weaker aside from the FTSE Small Cap index.Volume was moderate, with 2.669 bln shares changing hands in 505,122 deals.On Wall Street, by London's close, the DJIA was 13.40 points higher at 12,786.40 but the Nasdaq composite index was off 5.90 points at 2,511.05 after a mixed batch of US earnings reportsTech investors pulled back after Yahoo posted a surprising 11 pct drop in its first-quarter profit after-hours yesterday, while also making investors shudder were disappointing results from IBM and Motorola.But JP Morgan Chase gave US blue chips a lift after the bank reported a 55 pct jump in profits that far surpassed Wall Street's expectations.tf.TFN-Europe_newsdesk@thomson.comjmh/tcCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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London shares close sharply weaker at session low, NY drops on sub-prime woes 