Investors shied away from trading today but moderate gains in the banking sector offset technol...
Investors shied away from trading today but moderate gains in the banking sector offset technology, media and telecom weakness.
It wasn't a great day for London's leading index but it did at least post a late recovery to finish moderately higher, up 11.7 points to 5138.5.
The value of shares traded on the FTSE 100 was 30% lower compared to the daily average over the past six months.
Leading a group of moderate FTSE 100 gainers was BHP Billiton. The miner impressed investors after announcing it has shuffled senior management ahead of Brian Gilbertson's appointment as chief executive officer which will go ahead later this year. The stock rose 13p to 366p.
Losses amongst the FTSE 100 were capped at 2.7% by ARM. The decline was prompted by news that fellow chip manufacturer Infineon Technologies has forecast a fiscal full-year loss and furthermore sees no obvious signals for a sustainable overall market recovery. ARM fell 8.5p to 302.5p.
At midday in the US, technology stocks were weak and all the major indices were lower. The Dow Jones was down 78 points to 9771. The Standard and Poor's 500 lost 11 to 1127 but the Nasdaq suffered most as it dropped 55 to 1930.
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