06/08/07 FTSE 100 6224.3, -76 Dow 13181.9, -281.4 FTSE 250 11185.8, -47.2 Nasdaq 2511.25, -64.73 FTSE All Share 3223.84, -34.49 S&P 500 1433.05, -39.15 Nikkei 16914.5, -65.4 Hang Seng 21992.8, -545.8 Oil (Brent) $75.16 Gold $684.40 Base Rate 5.75% 10 Yr Gilt 5.171% £/$ 2.044 Euro/Gbp 0.6761 Market report  All three major indexes plummeted on Friday as credit concerns continued to trouble investors, after the biggest US underwriter of mortgage bonds admitted to having problems. The market suffered further after US payrolls expanded at their slowest pace since February, adding just 92,000 jobs in July. While the unemployment rate rose to 4.6%, its highest level since the start of the year. Furthermore the Institute for Supply Management said its index for the service sector was 55.8 in July, down from 60.7 in June - although any reading above 50 indicates growth. The Dow Jones tumbled 281.4 points to close at 13,181.9, the S&P 500 dropped 39.15 points to end at 1,433.05. The Nasdaq fell 64.73 points to finish at 2,511.25. Bear Stearns led the financial sector lower after hosting a conference call concerning the company's health. Standard & Poor's had already lowered its debt rating to "negative" from "stable" and the company has lost 24% of its share value in the last three months. The chief financial officer said in the call that the recent turmoil in the bond market is as bad as it has been for 22 years. Shares in the company lost 6.3% to close at $108.35. Credit card companies were also hit on the view that consumers struggling with mortgage payments would fall behind on credit card debt. MasterCard sank 8% to $131.26 while American Express fell 5.6% to $57.49. Elsewhere, Network Appliance Inc tumbled after reporting revenue that fell further than its forecast as a result of slower spending by large customers. Shares in the data storage network equipment maker finished 20% lower at $22.97. DaimlerChrysler completed the sale if Chrysler Group to private equity firm Cerberus Capital Management, bringing an end to the failed 9 year merger. Treasury prices climbed as investors sought the safety of government bonds. The yield on the 10 year note fell to 4.68% from 4.77% late Thursday. US light crude oil for September delivery dropped $1.38 to $75.48 a barrel. COMEX gold for December gained $7.80 to $684.40 an ounce. The Nikkei ended 65.4 points lower at 16,914.5 this morning. Exporters again suffered on concerns demand in the US will fall, coupled with the continuing strength of the yen against the dollar. Sony, whose biggest overseas market is the US, lost 3.1%. Limiting losses, Toyota Motor Corp, rose after reporting first quarter profit that beat analysts estimates. The Hang Seng is currently 545.8 points lower at 21,992.8. Again stocks with a large exposure to the US economy suffered including HSBC Holdings which lost 1.5%. Cnooc Ltd led declines among oil producers after the price of oil fell. The London market closed deep in the red again on Friday as poor payroll figures in the US knocked already fragile investor confidence. The FTSE 100 Index closed down 76 points at 6224.3, sending London's leading share index almost back to its New Year opening level of 6220.8. Banks were among the worst hit, littering the fallers board after Royal Bank of Scotland revealed it was the latest firm expecting to be hit financially by the June and July floods. Claims for its insurance arm, which includes Direct Line, are set to cost RBS around £250m this year, overshadowing an 11% rise in interim pre-tax profits, to £5bn. Shares fell 16.5p to 575p as a result. Mortgage bank Northern Rock also suffered heavily, down 37p at 763.5p, as did Lloyds TSB, off 8.5p at 553.5p, while HBOS dropped 11.5p to 953p and Barclays fell 7p to 679p. Shares in pub groups continued their descent after Thursday's news that Mitchells & Butlers's £4.5bn property deal was being put on ice due to the current volatility in the debt markets. M&B stock was down 21.5p at 691.5p on top of the 5% falls seen in the previous session. Fellow pubs group Whitbread was driven 53p lower to 1535p and Punch Taverns, too, felt the pressure, off 40p at 1072p. Even airline British Airways was unable to remain in positive territory despite strong first quarter results, which had caused shares to surge earlier in the day. The improvement in profits to £289m offset lower guidance on revenues growth, which reflects the impact of soaring fuel prices and the weak dollar. BA, fined £270m earlier this week for colluding on passenger and cargo flight pricing, closed down 1p at £402.75p. Anglo American also failed to stay in the black even after confirming plans to sell Tarmac in a deal that reports said could net £3bn, plus first-half earnings that are 22% on higher prices. Shares fell 10p to 2759p. General insurer Royal & Sun Alliance, however, did hold on to earlier gains, topping the risers board up 2.2p at 131.2p after a broker upgrade, which came ahead of half-year results next week. Economic report  UK Industrial Production (Jun) 09.30 bst Recent BoE minutes suggested manufacturers aren't being adversely affected by the elevated level of sterling. And the manufacturing PMI survey in June was relatively buoyant, so a decent monthly gain is expected by historical standards.    The details published in this e-mail are intended for information only and should not be construed as advice under the Financial Services and Markets Act 2000. 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