FTSE 100 declines as investors worry about health of global economy

0 Comment(s)Print E-mail Xinhua, October 21, 2014
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FTSE 100 Index, the British benchmark stock market gauge, decreased by 0.68 percent, or 43.22 points, to 6,267.07 points on Monday, as downbeat U.S. earnings rekindled worries about the health of the global economy.

The jitters re-emerged on Monday as U.S. tech giant IBM disappointed with a big earnings miss and profit warning before U.S. markets opened. The computer company reported third-quarter earnings that fell well short of analysts' expectations.

There was also downbeat corporate news in Europe as German software maker SAP cut its 2014 operating profit forecast on Monday as customers shifted faster than expected to products delivered over the Internet, delaying when those orders could be booked as sales.

InterContinental Hotels Group's share price increased by 4.31 percent, topping the gainers of the blue chips. International Consolidated Airlines Group, TUI Travel, Tesco and Associated British Foods increased by 3.14 percent, 2.98 percent, 2.72 percent and 2.57 percent respectively.

BG Group led the top losers of the blue chips with a share price drop of 3.80 percent, followed by Kingfisher (3.01 percent), Tullow Oil (2.96 percent), Petrofac (2.83 percent) and ARM Holdings (2.69 percent).

The index has decreased 4.16 percent so far this year when adjusted to the U.S. dollar. Endit

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