Yesterday afternoon’s trading saw the FTSE fall even further after blue chips issued poor results.GlaxoSmithKline warned that falling sales of its key Avandia diabetes drug, together with increasing competition from copycat drugs in the US, would knock about 5% off its earnings in 2008. The pharmaceutical giant was down 7%, wiping £4.5 billion off its [...]

More: Disappointing blue chip results sends FTSE falling