February 8, 2008

London shares on the backfoot

LONDON (AFP) - The FTSE 100 index of top companies shed 0.76 percent to 5,828.30 points in early afternoon trade.

Rolls-Royce plunged 9.11 percent to 436.25 pence after the maker of plane engines said a weak dollar caused its 2007 net profit to slump by more than a third to 606 million pounds.

Dealers said investors were also disappointed that the group failed to announce a share-buyback plan.

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