|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Wednesday 24th of September 2008
July 19, 2005

FTSE 100 down but volume strong on Shell trading


by Brian Turner
FTSE 100 down but volume strong on Shell trading

In London on Tuesday, the FTSE 100 was down 0.2 percent to 5,201.5 and the FTSE 250 lost 0.3 percent to 7,4151 on a volume of 4 billion shares traded.

Volume was enhanced by the unification of Royal Dutch and Shell shares, with over 243 million Shell shares traded in the action, the most Shell shares traded since last October, and the closing auction was lengthened by five minutes in relation to the reweighting involved.

The biggest gainer on the FTSE 100 on the day was SABMiller, which was up 10.6 percent to 980p on its purchase of the second largest brewer in Latin America, Bavaria of Colombia. The acquisition is worth $7.8 billion.

Meanwhile support services group Babcock was the best performer of the day on the FTSE 250 with an advance of 11.3 percent to 118 ½p as it announced contract wins.

Electrical components distributor Abacus Group, on the other hand, lost 22.2 percent to 131 ½p after it warned that this year’s profits would be lower by one-fourth than market expectations and as it cut its payout to shareholders to 7.2p per share, from 10.5p.

Discuss this in the Finance Markets forums

Story link: FTSE 100 down but volume strong on Shell trading


Add to Bookmarks:

ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL

 

 

Previous: « US Treasury bond market quiet
Next: Unocal endorses Chevron bid »

Visited 493 times, 1 so far today