FTSE 100 movers: National Grid leads index lower

20th May 2010 15:39

The slump in Footsie is so complete that there are no constituents whose share price has risen today. The best performer is British Land, whose share price is 0.25% lower. The rights issue announcement from National Grid has knocked its share price. The two-for-five rights issue at 335p a share will raise £3.2bn. The rights price was set at a 43.7% discount to the previous day's share price - adjusting for the previously announced 24.84p a share dividend. National Grid wants to fund capital investment in the UK - it expects to spend £22bn over the next five years. British Airways is lower due to the courts overturning the injunction blocking its staff from striking. Six of the ten worst performers are mining companies. They are still worried about a decline in demand for metals because of the weak global economy. FTSE 100 - FallersNational Grid (NG.) 572.00p -7.74%Kazakhmys (KAZ) 1,059.00p -6.94%Eurasian Natural Resources (ENRC) 924.50p -6.90%Rio Tinto (RIO) 2,783.50p -6.73%Xstrata (XTA) 872.00p -6.61%SABMiller (SAB) 1,910.00p -6.14%Invensys (ISYS) 274.00p -5.29%Anglo American (AAL) 2,367.00p -5.13%British Airways (BAY) 183.20p -4.93%Fresnillo (FRES) 800.00p -4.93%