Morning Markets: FTSE falls on IMF UK bank capital warning

The FTSE 100 has fallen almost 2% in early trading this morning, as an IMF warning the UK Government ...

The FTSE 100 has fallen almost 2% in early trading this morning, as an IMF warning the UK Government may need to pump more capital into Britain's banks drove the blue-chip index down 85.50 points to 4,382.91. Cable and Wireless leads the losses so far, despite posting pre tax profits of £291m for the year to 31 March, compared to £247m over the previous twelve months. However, its shares have dived 9.68% to 141.8p. British Land also revealed its net assets have halved over the year, to £3.2bn, driving its shares down 4.1% to 397p. In the US, the Dow Jones closed yesterday on 8,422, 1.75...