Gloomy news from overseas hits Footsie


12-06-2001

TheFTSE-100 Index began the week in downbeat fashion yesterday (Monday), as the City reacted to gloomy news overseas.

Early trading was hit by poor GDP figures overnight from Japan and a poor session on Wall Street on Friday evening.



With little corporate news to lift spirits in the first hour, the Footsie was off 27.6 points at 5923.



Railtrack led the fallers' board as its recent share revival came to a grinding halt with a drop of nearly 4 per cent, or 15p, at 382p.



Media group Granada was also struggling ahead of its interim results announcement on Wednesday.



Shares in the ITV broadcaster dipped 61/4p at 169p as investors worried over a slowdown in advertising revenues.



Elsewhere, airports operator BAA lost 5p at 630p after saying the number of passengers from the US had dropped 10 per cent in May.



And Scottish-based MacDonald Hotels gained 6 per cent, or 9p at 166p, after full-year pre-tax profits showed a healthy increase.



Other risers included TalkSport owner Wireless Group after it sold Scot FM for 25 million.



Shares in the group picked up 5p at 127p.



And WT Foods soared ahead 24 per cent, or 9p at 166p, following a management buyout approach for the curried foods supplier.