Excerpt from: Individual Equities CFDs and Spread Bets
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| June 02, 2008 | | Spread bets and CFDs on the FTSE 100 | Spread betting and contracts for differences on the UK stock market should consider that banking sector stocks are pulling the FTSE 100 lower today.
One of the biggest problems is with Bradford & Bingley, which lends money to landlords. The company is reporting dreadful first quarter earnings.
Bloomberg reports on Bradford & Bingley:
Bradford & Bingley plunged 26 percent to 65.5 pence after
the company said it will raise 42 million pounds ($83 million)
less than the 300 million pounds it originally planned in a
rights offer to replenish capital.
Bradford & Bingley said today pretax earnings, excluding
one-time costs, tumbled 48 percent to 56 million pounds in the
first four months of the year. The news is also hurting the UK pound in forex trading today. | | |
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