The FTSE 100 is down in early trading, despite a belief it would rise similar to other world stock indices currently rallying off of positive US housing data.
The benchmark blue-chip index slipped 51.72 points (1.16%) to 4,425.30 as of 8:39am. Stocks seeing the largest drop included insurer Amlin and telecoms giant Vodafone. The former dropped 6.19% to 318p after news it would place 23.5m new shares to help fund its planned takeover of Fortis Corporate Insurance for €350m. The latter, meanwhile, slid 4.71% to 113p, possibly over news its former boss Arun Sarin received £500,000 to move to the US as a part of an £8.1m package last year. Stocks in the black this morning include Thomas Cook Group, which rose 2.39% to 236p, and BAE Systems, u...
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