London blasts: LME closes its trading floor
07 July 2005 12:35 [Source: ICIS news]
LONDON (CNI)--The London Metal Exchange (LME) closed its trading floor on Thursday following a series of bomb blasts in central London.
A statement issued by the LME said: "Following various incident in the centre of London, the LME is currently within a police exclusion zone. As a result, the exchange does not anticipate opening its trading floor today. All trading will be conducted by LME Select [the electronic trading system], which is unaffected.
"The quotations committee will establish official prices, unofficial prices and closing prices for all metals and plastics contracts, at the normal times, in accordance with LME emergency procedures."
The LME is located only about 500 metres from Liverpool Steet station, one of six central London underground (metro) stations confirmed by emergency services to have been hit by bomb blasts. The stations were identified as Liverpool Street, Edgware Road, Russell Square, Aldgate East, Kings Cross and Moorgate.
Emergency services confirmed that a bus was blown up in Tavistock Square but earlier reports that two other buses had been bombed appear to have been confused with blasts at underground stations.
Police said there had been seven explosions in central London. At least two people were confirmed dead and over 100 injured.
The blasts brought the London underground system to a complete halt, badly disrupted road transport and caused the price of crude oil futures, sterling and equity markets to fall.
By: Glenda Thisdell
+44 20 8652 3214
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