Towards midday the FTSE 100 was up 39.6 points to 5140.6. Gains were capped at 5% by ICI, L...
Towards midday the FTSE 100 was up 39.6 points to 5140.6.
Gains were capped at 5% by ICI, Logica and Brambles Industries while losses were capped at 3% by Capita and WPP. There were few obvious trends to trade but the banking sector improved after its day in the red yesterday.
In the US on Thursday the Standard & Poor's 500 suffered its sharpest monthly decline since
September. The underlying factor behind its fall has been put down to concern that corporate profits will recover more sluggishly than first anticipated.
By the close of trade on Thursday the S&P 500 dropped 3.16 to 1106.73, the Dow Jones lost 21.45 to 10,106.13 while the Nasdaq slipped 20.39 to 1731.49.
The S&P 500 dropped 2.1% over the month, the Nasdaq lost 10% and both indices also declined in January. The Dow Jones however advanced 1.9% in February, its fourth monthly gain in five. Fueling the Dow's rise were defensive stocks including Boeing, Honeywell and Eastman Kodak.
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