Footsie falls below 4000 mark

The FTSE 100 Index tumbled back below the 4,000 level today as hefty falls from banking and insurance stocks hit the market.

Footsie falls below 4000 mark
Mon, 06 Jan, 2003 - 13:24

The FTSE 100 Index tumbled back below the 4,000 level today as hefty falls from banking and insurance stocks hit the market.

The losses came after financial services group Britannic delivered a blow to the sector by warning that fragile stock market conditions could force it to defer annual bonus payments on savings plans and scrap its dividend.

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