thursday's trading, page-52

At the risk of sounding like a bear, maybe the ftse hasn't dropped as far as it should have.

Also don't forget the UK has a large financial sector compared to it's other sectors and they have been "bailed out" in theory. Commodities have been continually sliding so that may explain at least some of the difference between us.

We have been hit pretty hard when you look at the move in terms of AUD as well.

If I've done the numbers right XJO has moved down around 65% from the high if you work it out in AUD dollars.