Monday saw financials and pharmaceuticals down with oil and telecommunication stocks on the up. The FTSE 100 closed higher for the day by just over 0.5%. Despite telecommunication stocks on the up, the FTSE TechMARK fell slightly below its starting level.
Tuesday was another day in the red for financials and pharmaceuticals. Telecommunication stocks also took a downward turn, leaving the FTSE 100 in the red by 3%. The FTSE TechMARK was hit hard and fell by almost 5%.
Wednesday saw down, down, down with the FTSE 100 closing at its lowest level in five years, already named black Wednesday (although red would be more appropriate). The FTSE 100 fell just short of 3.5% and the FTSE TechMARK managed just short of 4%. A nother record low. Investors fears took over with so many negative pieces of economic news being banded around.
Thursday's trading was more positive, allowing indices to close in the black. Gains during the day had been higher but at least the closing colour was not red. Banks and telecommunication stocks led the gainers but oil and pharmaceutical stocks also picked up. By close of play the FTSE 100 was up by almost 2% and the FTSE TechMARK managed just over 1.5%.
Friday was a positive day of trade for the UK markets, with gains seen by telecommunication and financial stocks. Despite the record fall on Wednesday, the gains made over the week took the FTSE 100 to an overall loss of just short of 1%. However, trade for the day showed a gain of over 3%. The FTSE TechMARK was 3.5% higher for the day but fared slightly worse for the week, losing just short of 4%.