The FTSE 100 has erased about half its gains from yesterday currently down 20.1 points to 5207.7 despite good earnings reports from Shell and British American Tobacco.
Shares slipped in early morning trading as investors reacted to disappointing earnings from US companies, renewed inflation concerns and news that car manufacturer General Motors has been subpoenaed by the US Securities and Exchange Commission as part of a probe into its accounting practices. Shell outperformed the broader market, after earnings from the world's third-largest listed oil firm beat forecasts to move up 1.58% to 1805p, while cigarette maker British American Tobacco also edged higher after its latest set of earnings topped expectations. Its shares have advanced 0.08% to 1196p...
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