sexta-feira, 24 de outubro de 2008
Overseas wipeout - What a way to start the day
LONDON (MarketWatch) -- U.K. stocks tumbled on Friday on a day when the British economy officially was contracting, though the slide was as much as about worries over growth in Asia as the domestic economy.
The FTSE 100 (UK:UKX: news, chart, profile) index dived 6.2%, or 252.46 points, to 3,835.37.
The mid-cap FTSE 250 (UK:FTSE250: news, chart, profile) , with constituents more geared to the U.K. economy, fell 6.2%, or 379.8 points, to 5,748.70.
The losses came as the Office for National Statistics said the economy shrank a worse-than-forecast 0.5% in the third quarter compared to the second quarter, the biggest drop since the fourth quarter of 1990.
Analysts had been looking for a 0.2% quarterly drop.
The British pound tumbled over 4% to $1.5591.
But as Asia stocks melted, with the Nikkei 225 dropping 9.6% in Tokyo and the Kospi down 10.6% in Korea, U.K.-listed companies exposed to the region tumbled. See Asia Markets.