Shares have been mixed this morning helping the FTSE 100 index to move slightly above and then below its opening to a current value down about 4 points to 4,487.
Oil shares are up, but retail and banking stocks have dragged the index back.
Hays is down 4.75p to 124p after announcing it will write off a loan linked to the sale of a former chemicals unit. The new owners have stopped paying interest on the loan.
Marks & Spencer is down 7p to 356.5p after rejecting another bid from retailer Philip Green as insufficient.
ITV dropped 1p to 111.5p after Deutsche Bank cut its recommendation to ‘hold’ and reduced its share price target.
Dixons has been raised to ‘buy’ by UBS, sending its shares up 5.25p to 161.25p.
Antofagasta, the Chillean copper miner, is up 11p to 900p after reports copper demand will outstrip supply this year.
Shell is up 3.5p to 409.75p after announcing it might merge the two boards that have respectively ruled the company from the UK and the Netherlands.
Shares in the US were mixed overnight.
The Dow Jones Industrial Average index shed a marginal 0.85 points to 10,379.58, although Exxon made strong gains and Boeing moved up again on the back of a multi-billion dollar contract win with the US navy and announcing strong order interest for a new long-range civilian jet.
The broader S&P 500 index added 1.55 points to 1,133.56, while Nasdaq’s Composite added 2.63 points to 1,998.23.
Tokyo’s Nikkei 225 index dropped 33.82 points to 11,607.90, while Hong Kong’s Hang Seng index is down about 110 points to 12,050.IFAonline
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