FTSE extends losses, falls 0.25%
From AFP European Edition | 2009-07-03 13:00:13
<div><p>The FTSE 100 weakened further on Friday after sliding a day earlier on news of greater-than-expected job losses in the United States.</p><p>In late morning trading, the index of leading shares dropped 0.25 percent to 4,223.88 points.</p><p>"There's a 'morning after the day before' feeling in the UK stock market today, still reeling after yesterday's surprise jump in US unemployment," said IG Index chief market strategist David Jones.</p><p>"With the Americans off on holiday celebrating Independence Day, we are probably facing a directionless day."</p><p>Meanwhile in London on Friday, the media sector rose strongly with Anglo-Dutch publisher Reed Elsevier jumping 3.13 percent to 453.75 pence and advertising giant WPP gaining 1.30 percent to 389.5 pence.</p><p>"An investment bank upgrade on the media sector is thought to be the reason behind the move," said Jones.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=54150122&bid=informcom" /></div><div id="copyright"><div>
Copyright 2009 <a href="http://www.afp.com/english/links/?pid=copyright">AFP European Edition</a></div></div>
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