Rate cuts sends market plummeting

Blue chip stocks saw more heavy losses today as disappointment over the Bank of England’s quarter-point interest rate cut sent the London market plummeting 2.6%.

Rate cuts sends market plummeting
Thu, 07 Feb, 2008 - 19:14

Blue chip stocks saw more heavy losses today as disappointment over the Bank of England’s quarter-point interest rate cut sent the London market plummeting 2.6%.

Downbeat results from heavyweights BT, GlaxoSmithKline and Rolls-Royce also combined to drag the FTSE 100 Index into the red.

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CourtsBusinessHeathrowPlace: LondonPlace: AmericaPlace: UKPerson: Ian McLeodOrganisation: Bank of EnglandOrganisation: BTOrganisation: GlaxosmithklineOrganisation: Rolls-RoyceOrganisation: FootsieOrganisation: GlaxoOrganisation: YellOrganisation: CityOrganisation: Yellow PagesOrganisation: BGOrganisation: Carphone WarehouseOrganisation: CarphoneOrganisation: BSkyBOrganisation: EasyJetOrganisation: HalfordsOrganisation: BG GroupOrganisation: Smith & NephewOrganisation: Tullow OilOrganisation: Yell GroupOrganisation: Rolls-Royce GroupOrganisation: AllianceOrganisation: BT Group
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