Wednesday, February 2, 2011

world stock market falling!

The political protests in Egypt have sent world stock markets falling and pushed up the oil price again.

In London, the FTSE fell by 37 points to 0.6% to 5843 this morning, a seven-week low. International Airlines Group, formed by the merger of British Airways and Iberia, fell by nearly 4%, and holiday firms including Tui Travel and Thomas Cook also dropped.

The Japanese stock market had earlier fallen by 1.18% to close at its lowest level in a month. There were also losses in Hong Kong and South Korea as the prospect of widespread disruption hit the markets.

Gary Jenkins, head of fixed income research at Evolution Securities, believes the Middle East has now replaced the eurozone debt crisis as the primary concern in investors' minds.