The FTSE100 has edged into the black in mid-morning trading after strong losses to bank stocks led to a sharp early slide. London's blue-chip index is currently 1.80 points (0.03%) higher to 5314.40.
BP has climbed 2.94% to 534.75 after a 23% first half profit increase. Oil compatriots Cairn and Tullow are higher in sympathy, up 4.28% to 2804 and 3.01% to 770 respectively. Catering group Compass leads the way however, 4.53% ahead to 357.75; while Antofagasta heads a host of miners higher, 3.24% up to 557.50. News of Merrill Lynch’s fresh write-down and cash call has smacked banking stocks, with Barclays falling 7.53% to 313.25 so far. Royal Bank of Scotland and HBOS are not faring too much better, down 5.12% to 195.70 and 5.04% to 273 respectively. In New York, only one Dow Jones I...
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