Mixed profit numbers hit FTSE

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Trading was volatile in London after mixed profit reports were released, with the FTSE100 down more than 0.5% around midday before making a slight recovery to 4,237.29, a drop of 45.38 points (1.06%).

Private equity firm 3i Group built on earlier gains to add 9.16% to 491.75p, closely followed by Legal & General, which climbed 8.48% to 71.6p. British American Tobacco tumbled 5.89% late in the afternoon to £16.13, while Autonomy Corporation shares slid 5.81% to 956p. Markets opened down on Wall Street as investors nervously awaited the unwinding of Lehman Brothers' credit default swaps. By mid-morning the Dow Jones was down 50.65 points (0.55%) to 9,214.78. 3M saw the biggest gains, up 5.29% to $60.55, while American Express added 2.3% to $24.91. Citigroup shares dropped 5.1% to ...

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