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FTSE ends down 1.7% on ECB move | |
(about 7 hours later) | |
(Close): UK shares turned south in the afternoon to end with a hefty loss leaving the FTSE 100 index down 111 - or 1.7% - at 6,446. | |
ECB president Mario Draghi set out the details of its asset buying plan around lunchtime without giving guidance as to its size - and the markets were not happy with it. | |
Sainsbury's began higher, bouncing back from its downbeat trading statement on Wednesday, but ended down 4%. | |
Its rival shares followed suit. | |
Morrisons ended down 0.6% after rising 1.6%, while Tesco 1.5% to end down 1.1%. | |
The oil price went to a two-year low, following news that Saudi Arabia state producer Saudi Aramco had cut prices. | |
Brent crude for November delivery fell 1.3% to $92.91 a barrel, while US crude ended London trading flat at $90.63 a barrel. | |
Ted Baker shares were up 0.6% after the clothing brand reported a strong rise in first-half profits. | |
Pre-tax profits for the half year to 28 August rose by a third to £15.6m, with revenues up 17% to £182.2m. | Pre-tax profits for the half year to 28 August rose by a third to £15.6m, with revenues up 17% to £182.2m. |
Domino's Pizza rose 1% after it delivered another strong set of trading figures. UK underlying sales rose 12.9% for the 13 weeks to 28 September, although Domino's noted that its progress in turning round its German business was "slower than we would have liked". | |
On the currency markets, the pound fell 0.22% against the dollar to $1.6148 and dropped 0.66% against the euro to 1.2737 euros. | |