FTSE slumps to 2014 low after Draghi fails to light up markets – London Report
BRITAIN’S top equity index yesterday slid to its lowest closing level so far this year on disappointment with the European Central Bank’s latest stimulus measures.
The blue-chip FTSE 100 index ended down by 1.7 per cent, or 111.13 points, at 6,446.39 points – its lowest closing level since ending at 6,439.96 points in December 2013, and marking one of its worst daily sessions in 2014.
Ashtead Group fell 4.6 per cent to 977p, after US peer United Rentals posted the biggest loss among Standard & Poor’s 500 members yesterday.
Specialist printer maker Xaar slumped 37 per cent – its most on record – to 231p, after cutting its 2014 sales forecast for a second time and predicting a further revenue decline next year.
Ill-fated retailer Tesco had another day to forget, plummeting 1.11 per cent to 178.20p after billionaire investor Warren Buffett described his decision to invest in Tesco as a “huge mistake”.
His Berkshire Hathaway firm owns a 3.7 per cent stake in Tesco, worth hundreds of millions of dollars.