London Stocks Plummet in Gulf Crisis

Uncertainty and mounting tensions in the Persian Gulf sent share prices plummeting today on the London Stock Exchange.

Dealers said investors were unwilling to take new positions or hold existing ones, and largely overlooked Wall Street’s early gains. Commentators said declines on other European stock markets over Mideast jitters spilled over into the London market.

At the close, the broad-based Financial Times-Stock Exchange 100 index stood at 2,156.6, a loss of 20.3 points or 0.9%. The index ranged from a high of 2,176.5 to a low of 2,149.2.

The narrower 30-share index closed down 19.4 points at 1,659.5, while the broader 500-share index finished at 1,163.46, down 10.97 points.

Turnover was a moderate 350.6 million shares, compared with 500.5 million shares a trading day earlier.