The FTSE 100 Index finished the day little changed, down 0.01% at 5,792 points with weak financials and ex-dividend stocks dragging.
Financial stocks were weaker as interest rate cut hopes faded. In its latest Quarterly Inflation Report the Bank of England said CPI inflation is expected to stick close to its 2.0% target. Amvescap fell 2.97% to 522p on confirmation of a deal between Merrill Lynch and BlackRock to create one of the biggest asset management firms in the world. The news quashed hopes of a bid from the US investment bank and raised competition fears. AstraZeneca fell 0.54% to 2,602p as Insinger de Beaufort said it prefers GlaxoSmithKline, but Glaxo also ended 1.41% lower at 1,466p after going ex-dividend....
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