Friday, 8th July 2005 (3310 views)

The London Metal Exchange is closed today as a result of yesterday's attacks on central London.

The area is one of those cordoned off by police, with trading suspended.

The City of London recovered late yesterday after the initial shock of the Tube and bus bombings.

In the hours immediately after the explosions the FTSE fell by almost 200 points as traders dumped sensitive stocks.

Airlines and hotels were among those who suffered as investors shied away from companies likely to be affected. More than £40 billion was wiped of the value of UK-listed shares.

But as the emergency services got the situation under control and London began to get moving again, the shares rallied with the FTSE closing just 70 points short of the opening level.

This morning the share index was up by 40 points after opening on 5,200.1.

Meanwhile, gold prices rose sharply in light of the attacks, with the yellow metal picking up as it does traditionally in times of uncertainty.

 

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