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UK Market Update : 
Smith Nephew Led FTSE Stocks Decline
Author: 123jump.com Staff
123jump.com
Last Update: 4:40 PM EDT May 01 2008

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The Bank of England in its report on financial stability said that the current re-pricing in the credit markets is taking longer than anticipated. But, added that prices of securities are likely to rebound from the current low in levels in months ahead. FTSE 100 index close unchanged on a weakness in energy and mining and metals related stocks. Smith & Nephew led decliners in the FTSE 100 shares with a drop of 13% followed by losses in Eurasian Natural of 3%, in Home Retail Group of 2.8%.

 
The medical product company purchased 7.2 million shares and added $146 million in debt to a total of $1.45 billion.

World markets review

In Tokyo Nikkei 225 Index closed lower 83.13 or 0.60% to 13,766.86, in Australia ASX 200 index lower 9.60 or 0.17% to close 5,585.80. Markets in Hong Kong and Malaysia, South Korea, Thailand, Indonesia and India were closed today.

In London FTSE 100 Index closed unchanged to 6,087.30. Market in Paris, Frankfurt and Zurich were closed today.
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