UK govt Safeway decision fails to halt slide

The UK government’s verdict on the battle for supermarket chain Safeway failed to halt a slide in London’s leading shares today.

The FTSE 100 index continued early losses, sinking 48.5 points to 4153.7 by mid-morning, despite news that the Department of Trade and Industry had given William Morrison approval to bid for Safeway after a probe by competition watchdogs.