The FTSE has opened unexpectedly slowly after strong gains across Europe, Asia and the US yesterday sparked talk the worst of the credit crunch may be over.
The index, which had a fairly static day on Tuesday, has dropped 3.5 points, or 0.06%, to 5,867 as of 9.45am.
Legal & General currently heads the day’s winners, advancing 3.8p, or 2.95%, to 132.8p. It is followed by the London Stock Exchange Group, up 37p to £13.36, and Old Mutual, up 2.7p to 119.8p.
But international passenger travel firm FirstGroup has dropped 22p, or 3.61%, to 588p, and it is joined in the loser’s table this morning by Lonmin, down 102p to £29.17, and Anglo American.
In the US, a strong day on the Dow Jones saw the index climb 391.47 points, or 3.19%, to 12,654.36.
Citigroup was the biggest mover, advancing 2.42 points, or 11.3%, to 23.84, and was followed by JPMorgan Chase, up 4.05 points, or 9.43%, to 47, American International Group and American Express.
Japan's stocks surged the most in 10 weeks, led by financial companies on renewed confidence global credit markets are recovering.
The Nikkei 225 Stock Average climbed 532.94, or 4.2%, to close at 13,189.36 in Tokyo.
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