Stock Market Update - Wed 13May09

London - Not So Good - the FTSE ends session sharply lower

The FTSE 100 closed down 94 points at 4,331, whilst the FTSE 250 closed down 252 points at 7,371, and for those that are interested the FTSE Small Caps closed down nearly 95 points at 2,217.

The bigger blue chips ended the day sharply lower, today, despite the massive catering firm Compass Group impressing. Unfortunately the property and mining sectors wiped out any good feeling there. Wall Street opened down after some poor retail data as well. The Bank of England's quarterly inflation report also din't help. It basically said that the economy would be declining about 4.5% year-on-year by Q2 2009, adding that any recovery will take longer than expected (no suprise there, then).

Over the pond, Wall Street stocks were lower during its morning trade after news that retail sales were down in April, which was opposite to what had been expected. By the time London closed the DJIA was down 144 points at 8,325, whilst the S&P 500 was down 17 points at 891.27, and the Nasdaq down nearly 34 points at 1,682.