Weak dollar hits FTSE firm profits

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In London, markets fell back in early trading as the weak dollar hit profits at some firms and the FTSE 100 was down 15.7 points, or 0.24%, to 6,470.7.

Standard Chartered made the biggest gains, up 19 points, or 1.19%, to £16.17, followed by Invesco, which jumped 7.5 points, or 1.13%, to 668.5p. British Airways added 3.75 points, or 0.98%, to 388p, Resolution gained 6 points, or 0.88%, to 690.5p, and Smith & Nephew climbed 5 points, or 0.86%, to 587.5p. Tate & Lyle shares dropped drastically as the company said the weak dollar would impact on profits, down 125.25 points, or 22.47%, to 432.25p. Northern Rock lost much of its gains over the week, down 9 points, or 4.65%, to 184.5p and Antofagasta fell 27 points, or 3.42%, to 763.5p. On W...

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