Daily market snapshot: FTSE flat as banks flounder

Shortly after 10.30am, the FTSE 100 and FTSE All-Share had made marginal gains while the Eurofirst 300 was off 0.1%. Although the third quarter earnings season had largely trumped expectations during the week, enthusiasm in the US stock markets hit the wall on Friday. Weak results from industrials and disappointing macro releases on housing starts and initial applications for jobless benefits triggered the slide. The Dow Jones fell 1.1% and the S&P 500 fell 1.2%. Thoughts (with Henderson New Star) "Talk, it seems, is not so cheap after all: on Thursday, rivalries in the lucrativ...