Making A Percy Pig Of Yourself As FTSE Dalls

Bets in the City / Editor / 20 November 2008 / Leave a comment

IT'S 20 per cent off day at Marks & Sparks.

No, not 20 % off its share price - 20% off its clothes, food, wine, food, wine, sofas, wine and spirits.

M&S has been depressed as last year's turkey suprise. But if it piles it high and sells it cheap things can only look up, right? Well, maybe.

And here's a tip to bargain-hunting shoppers - if you don't buy anything and wait until after Christmas, the stuff will be even cheaper. Much cheaper.

Six months ago a share in M&S would have set you back 396.00p. Now you can buy the same thing for 205p, leaving enough money left over for a bag of Percy Pigs.

Of course M&S is not alone. Fund manager Schroders has fallen 57p to 684p, for example.

In all, the FTSE 100 index fell below the 4000 barrier today. By 10am this morning the FTSE stood at 3911.8.

Last night, the FTSE fell by 202.8 points, or almost 5%, in the final 60 minutes of trading.

Well, would you like to be holding something you can't get rid off as bad news in Tokyo or New York causes its value to plummet?

For such reasons traders are shy of holding stocks over the weekend. Look for a drop in the market on Fridays.

Confidence in money is low. Libor spreads remain high.

The financial crises is not over by a long way. Punters can take advantage...