The FTSE-100 Index slumped into negative territory today after Wall Street suffered its biggest one-day fall this year.
The Dow Jones Industrial Average fell nearly 270 points at its worst point last night as concerns about the volatile outlook for equity and currency markets took hold.
London shares followed suit shortly after opening, with the blue-chip index falling 52.4 points to 6147.1.
The banking sector was among the worst hit by the slide.
Bank of Scotland shares fell 22p to 837.5p while Royal Bank of Scotland stocks were down 34p to £13.33. HSBC also saw its shares slump 31p to £20.43.
Department store Bentalls was hit by bad news on its current trading which shattered hopes of it finally having turned the corner towards better shareholder returns. Its shares were down 8%, or 6p, to 67.5p.
But some companies managed to buck the trend, including brewing group Morland which announced it was in talks which may or may not lead to a takeover of Greene King.
Morlands shares jumped more than 12%, or 45p, to 417.5p while Greene King saw its stocks pushed up 5p to 642.5p.
Record earnings at fellow pubs and brewing group Fuller, Smith & Turner helped push its shares up 12.5p to 542.5p.
PA News 28/05/99
