Vodafone losses wipe 50 points off FTSE

A sharp fall in the share price of mobile phone giant Vodafone wiped nearly 50 points off the FTSE 100 Index today.

Vodafone shares were down 14% or 21.35p at 127.9p after it said revenues had been hit by a weaker economic environment and lower than expected sales of equipment such as handsets and USB data cards.