Towards midday trade, the FTSE 100 was flat at 5039.7. There were no big movers and few obvious...
Towards midday trade, the FTSE 100 was flat at 5039.7. There were no big movers and few obvious trends although oil sector weakness threatened to push the index into the red.
The oil sector weakened slightly after Shell reported its first profit decline in two and a half years with third quarter profit down 17%.
Gains amongst the FTSE 100 were capped at 5% by ICI, up 18p to 342p, and Invensys also gained 5% cheered by better than expected US growth figures released yesterday.
Leading the fallers was Hanson, down 5% or 25p to 446p.
Wall Street markets did not plunge on Wednesday despite yesterday's figures revealing the worst drop in US growth in over a decade. Onlookers were relieved the drop in gross domestic product wasn't worse.
The Nasdaq finished Wednesday up 22.79 to 1690.20 and enjoyed its first monthly gain since June. The Dow Jones slipped 46.84 to 9075.14 but it closed up 2.6% for October. The Standard & Poor's 500 shed 0.01 to 1059.78 to finish October with a 1.8% rise, its first monthly gain since May.
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