FTSE down today

**kala11** Wed Oct 11, 2006 8:17 am

FTSE down today
The FTSE went down due to heavy losses incurred by the Oil and Mining sectors. All this activity was going on to lots of reasons, firstly the BT group was having talks with Deutsche Telekom, then there was Wolseley , the plumbing group who got a really good response from the former US Federal Reserve Chairman Mr. Alan Greenspan on the US housing market and then there was BSkyB , the pay TV broadcaster who is speculated to be taken over by a US Mutual Fund.

Then there were others who did badly which dragged the shares down a lot early on.
I feel that the markets will continue this trend through out the day because of a very poor and slow start.

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**taurus6** Sat Oct 14, 2006 2:46 pm

FTSE closed at a 5 year high on Friday and all the other UK indexes enjoyed a good day.

A lot of the movement came from the banking sector where Lloyds TSB,the 5th largest bank was subject to rumour of a takeover by Citigroup who are known to be looking for a European Accquisition.
Higher oil prices and mining stocks tracking higher also helped.

Private investors in the UK,where i am based,are tending to sit back and watch events at the moment and not get too involved in any big cap action.I suppose that means that at some point we expect the market to retrace, cause some volatility and present some buying opportunities.