Looming GM bankruptcy overshadows FTSE

London’s blue-chips were mired in the red today as the looming bankruptcy of car giant General Motors dealt a blow to market sentiment.

Looming GM bankruptcy overshadows FTSE
Thu, 28 May, 2009 - 12:27

London’s blue-chips were mired in the red today as the looming bankruptcy of car giant General Motors dealt a blow to market sentiment.

GM’s failure to agree a deal with its bondholders, announced yesterday, pushed the Dow Jones Industrial Average 2% lower overnight and undermined hopes of an imminent recovery.

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