The FTSE was at 5708.41 in early trading, down 19.24 points or 0.34%, as investors reacted with caution to a eurozone bail-out plan for Greece.
The winners were dominated by property companies encouraged by a positive trading update from Songbird Estates, with Segro trading at 324p, up 0.71%, Hammerson at 389p up 0.78% and British Land at 471p, rising 0.47%. Utilities fared poorly with Cable and Wireless Worldwide dipping 1.9% to 92p and International Power at 325p down 1.4%, not helped by rating downgrades by JP Morgan. Scottish and Southern Energy also fared badly off the back of a downgrade from the bank, trading at £11.10 (down 1.42%). The poor showing for the FTSE came as the Dow Jones finished slightly up at 10,841.2...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes