The FTSE 100 lost 18.8 points to 5,965.1, borne down by a retailing, property and bank sell-off as traders decided a quarter-point interest rate cut would do little to offset the housing market and consumer slump, nor the wholesale funding market for mortgage lenders such as Alliance & Leicester. The Times
Hammerson slid 43p to £10.31 on a sell note from SG Securities with a 950p price target.
Capital & Regional, the shopping centre developer that has been buoyed by bid speculation, lost 31.5p to 493.5p, weighed down by fears over the health of some of its tenants after a profit warning from DSG International.