Banks and miners drag FTSE into the red

clock

The FTSE 100 has slipped back into the red mid morning as poor performance from the banking and mining sectors weighed on the index.

London's leading share index made a bright start, rising 30 points after the opening bell, with investors buoyed by China hosting bond buying talks with Italy. However, with no further signs of a solution to the debt crisis plaguing the eurozone the positive sentiment was short lived. By 09:40am the FTSE 100 was down 0.71%, or 37 points, at 5,093. Cairn Energy has taken the biggest hit, down 11% or 35p, to 283p, following the group announcing it is pulling the plug on an unsuccessful well drilled off the coast of Greenland, in which they failed to find any commercial oil or gas. ...

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

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read
Advisers urged not to let clients 'act too soon' ahead of Budget

Advisers urged not to let clients 'act too soon' ahead of Budget

Communication is about ‘staying calm and keeping clients focused’

Isabel Baxter
clock 22 October 2024 • 5 min read
Why the Bank of England needs to stop over-sharing

Why the Bank of England needs to stop over-sharing

'We are used to the comments of central bankers moving markets'

Laith Khalaf
clock 17 October 2024 • 4 min read