The US markets may have gained in value yesterday but it would appear the FTSE 100 is singing from a...
The US markets may have gained in value yesterday but it would appear the FTSE 100 is singing from a different song sheet as it fell in early trading this morning after closing lower yesterday for a second consecutive day.
The Footsie lost 14.8 points to 5781.2 with Rentokil falling 5p to 210p after the FT reported the pest control group was facing scrutiny from the FSA.
The article says the company could be questioned about a share buy-back which took place the day before a positive trading statement. Rentokil said it wasn't aware of any possible questions from the regulator, and in turn refused to comment on the story.
Brewin Dolphin lost 13.5p, more than 9%, to 130.5p on saying net income fell to £2m from £5.9m a year ago.
The picture was a little rosier on the other side of the Atlantic. The technology-focused Nasdaq climbed 25.99 points to 2110.49 while the Dow Jones increased 39.30 to 10,911.94 and the Standard & Poor's 500 rose 7.74 points to 1255.82.
Tech stocks climbing in value included Cisco up 26 cents to $19.26, Oracle 79 cents to $15.30 and Intel 41 cents to $27.01, Juniper $2.32 to 42.53 to reverse a 7.8% decline the day before while Ciena rose $1.96 to 54.15 after falling 8.5% on Wednesday.
StarMedia gained 76 cents to $2.77 after BellSouth announced it had paid $25m for an 11% stake in the online media group. PacifiCare Health Systems lost 78 cents to $117.72 after the private health care group lowered its 2001 earnings potential.
There was little change in Japan's Nikkei 225 index this morning, which closed slightly lower at 13,261.84 despite gains for Japanese tech stocks.
Advantest rose 1.2% to 12,450 yen and Hitachi added 1.2% to 1239 yen.
In Hong Kong the Hang Seng index climbed 16.23 to 13,190.64 with China Petroleum added 2% to HK$1.52.
Australia's ASX200 climbed 0.4% to 3391.50 with National Australia Bank rising 1.6% to A$32.96 and Singapore's Strait Times falling 0.3% to 1651.47 with Datacraft Asia down 1.3% to $4.44.
Our weekly heads-up for advisers
'Nothing can prevent scammers developing workarounds'
Stalwart Scottish Mortgage takes third place
Consistency and compliance vs. slower reaction time
Search for replacement to begin imminently