A weary FTSE 100 was relatively flat this morning although pressured by weakness in oil heavywe...
A weary FTSE 100 was relatively flat this morning although pressured by weakness in oil heavyweights. No other real trends were apparent early on and only a handful of stocks, twelve in all, posted gains or losses over 1.5%.
The FTSE 100 slipped 10.3 points to 5417.5 at morning trade. If it stays this way it will mark the index's sixth fall in eight days.
Today's trading outlook was also dampened by late news yesterday from two US technology bigwigs. Computer manufacturer Apple and chip manufacturer Intel both admitted profits were still tumbling, adding further conviction that a recovery this year is looking less probable.
Leading FTSE 100 gainers this morning were Energis and Colt Telecom who posted respective gains of 3.4% and 2.9%. But the telecom sector wasn't necessarily the choice pick as Telewest led the FTSE 100 fallers with a loss of 4.8%.
A decline in the price of oil meant gloom for oil heavyweights. BP lost 14p to 552p and Shell fell 12.5p to 563p.
Over in the US all the major indices performed well yesterday and investors even began to show signs of optimism. Unfortunately, all this was nipped in the bud after trading finished when Apple and Intel forecasted more gloom. The likelihood is Wall Street will not perform so well today. But for Wednesday, the Dow Jones finished up 134 to 10606, the Standard & Poor's 500 finished up 11 to 1214 and the Nasdaq advanced 38 to 2067.
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