London blasts: LME trading as normal

07 July 2005 11:43  [Source: ICIS news]

LONDON (CNI)--The series of explosions on Thursday in the city of London has not disrupted trading at the London Metal Exchange, according to an LME spokesman.

The LME, which now trades plastics futures, is about 500 metres from the Liverpool Street/Aldgate Street station complex where at least two people were killed, according to a City of London police statement reported by the CNN news agency.

A total of six explosions were reported by police to have hit central London. Three buses were involved plus the Edgeware Road underground station.

The blasts forced closure of the entire London underground system and caused major disruption to public transport throughout the capital.

The first explosion occurred shortly before 09:00 hours British Summer Time (O8:00 GMT) somewhere underground between Liverpool Street and Aldgate East stations. It was followed by a major explosion on a bus in Tavistock Square and reports of blasts on two other buses and the Edgeware Road explosion.

Shares on the London Stock Exchange fell nearly 3%, while sterling sank to a 19-month low against the dollar.

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