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FTSE hit by swine flu fears

The FTSE 100 opened lower this morning at 4,133 down from Friday’s close of 4,156 with news of Mexico’s swine flu epidemic sending London equities tumbling.

By 9.05am, the index was down 1 per cent to 4,114 with tourism and airline stocks plunging amid fears of a further flu outbreak.

British Airways was down 7.9 per cent to 151p and Thomas Cook declined 6.7 per cent to 263.75p.

Banks held onto Friday’s gains with Barclays up 2.3 per cent to 241.50p, Lloyds Banking Group up 1 per cent to 101p and Royal Bank of Scotland up 2.4 per cent to 34.10p.


cru fears FSA action

cru Asset Management is concerned that the Financial Services Authority (FSA) may want the Arch cru fund range, which was suspended on March 13, to be liquidated at the earliest possible opportunity. A statement published on cru’s website says this decision may be made “on the grounds that although the structure of the funds is […]

Schroders’ profits halved

Schroders saw its pre-tax profit fall by 54% on a yearly basis in the first quarter of 2009, from £77.9m in the first quarter of 2008 to £36.1m this year before tax and exceptional items.However, its retail asset management division saw net inflows of £200m, a turnaround from outflows of £3.1 billion in the fourth […]

Home truths

Are we seeing the beginning of another cultural revolution? Chairman Mao and Margaret Thatcher were both instigators and architects of their very own cultural revolutions which changed the face of their nations.

Changes to early exit pension charges

In November last year, the FCA announced that from 31 March 2017, early exit pension charges will be capped at 1% for those customers who are eligible to access their retirement savings from age of 55. The rules also state that for new personal pension plans started after that date, or on new increments into […]


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