FTSE resists gloomy economic news

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After falling slightly in early trading, and following a series of poor economic forecasts, UK market made a slight recovery and the FTSE100 index was down 11.03 points (0.26%) to 4,202.05.

Reckitt Benckiser built on early gains to rise to £27.75 per share, a rise of 5.84%, after announcing it would increase its dividend 60% after beating analyst's expectations. Banking and Insurance stocks fared badly, with Lloyds Banking Group down 5.58%, Prudential dropped 3.72% and Aviva lost 3.51%. Wall Street began to cover some of yesterday's lost ground as trading began, with the Dow Jones climbing 0.39% to 7,919.3. JP Morgan added 3.78% and Bank of America gained 6.98% after heavy falls on Tuesday. However, tech firms fell, with Intel shares down 1.42%, Hewlett Packard lost 1....

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