FTSE loses ground in nervous trading

The market is feeling around for direction after FTSE-100 index stocks gained almost 50 points yesterday only to drop 23 points to 4640 in early trading today. Many dealers are trying to make sense of the first measurement of US consumer confidence published since the country was attacked 11 September - the report said confidence dropped faster than at any time since the last recession in 1990-1. Record company EMI is the biggest gainer so far, clawing back 16p to 230p following yesterday's meltdown when the stock lost more than £1 after a profits warning. At its current pric...