Index plunges ten points to new low
The Accountancy Age/ADVFN index has plunged to its lowest level as all of the stocks listed – bar one – fell. Its new low of 83.19 points is more than ten points down on last week’s close. The benchmark FTSE-100 also dropped as Marconi fell sharply following a profit warning and news it was cutting over 4000 jobs.
Reed Executive was this week’s biggest loser, dropping over 92 points as it de-merged its health business. Shares were also hit by rumours that it is considering bidding #250m for French construction group Vivendi.
Other losers were Logica, which lost 151 points or 18%, and ITNet which fell 13%.
Hays also dropped back slightly after postal service Consignia said it was suing the office support services company for infringing its de facto postal monopoly on the delivery of tickets, itineraries and invoices between travel companies and their respective agents.
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