FTSE rebounds despite weak US data

The index of 100 leading shares is still in the red, down 17.09 points, or 0.32%, to 5,296.86. However this is an improvement losses at around 2pm, when news US economic growth slowed between April and June sent FTSE100 tumbling 60.65 points, or 1.14%, to 5,253.31. The disappointing data also dragged on the Dow Jones. The US index was down 33.23 points, or 0.32%, to 10,433.93 points shortly after opening. The latest GDP figures showed the US economy had grown by an annualised rate of just 2.4%, the US Commerce Department has said. This compares with an annual rate of 3.7% in the pr...