FTSE steady after Dubai panic sends Asia tumbling

Shortly after 10am, the index was down more than 13 points, or 0.25%, to 5,181, with banks among the early winners. Concerns over Dubai's ability to pay back its debts sent the FTSE to its biggest one-day fall in eight months yesterday, the index dropping more than 170 points, or 3.2%, to close under 5,200. Investors had become jittery about banks' potential exposure to Dubai, despite assurances of only negligible exposure from a number of institutions. Concerns over Dubai's financial health surfaced yesterday after a government-owned company asked for an extension on repaying its ...