Agribusiness shares show some recovery

AGRICULTURAL ancillary companies and food groups had a rocky ride today as shares plunged on the London Stock Exchange.

The FTSE all-share index slumped more than 3% within 25 minutes of the stock market opening in London.

The market rallied towards the close of trading, but ended down 80.3 at 5169.1. Traders blamed the economic crisis in Russia and growing fears of a global recession.

Shares in ICI closed down 38p at 612p (-5.82%). Zeneca ended down 114p at 2217p (-4.88%). The other major loser was Avonmore Waterford which lost 10p to close at 200p (-4.76%).

Northern Foods, which had earlier lost 4.23%, recovered slightly to finish down 3p at 174.5p (-1.69).

Only one company posted a gain among our selection of shares – Express Dairies closed up a tentative 0.5p to 132.5p (+0.38%).