FTSE Broadly Flat After Mixed Morning
There was plenty of company news for investors to digest on Thursday morning, but the FTSE 100 index struggled to make any real headway in the face of mixed results. Approaching midday, the leading share index was, nevertheless, up 6.1 points or 0.1% to 5,233.57, having closed at its lowest level since before Christmas on Wednesday.
Dominic Turner
shareprices.com - Thursday, January 28, 2010
British Sky Broadcasting (BSkyB) was one of the best performers up 0.7% after it reported increased turnover in the second half of last year, up 10% to £2.87 billion from £2.6 billion the year before and marginally better than market expectations. At the other end of the market pharmaceutical company AstraZeneca was the biggest faller, down 100.5p or 3% to 2,944.5p, after reporting disappointing annual results and issuing a profit warning for 2010.
The State of the Union address by U.S. President Barack Obama was not as scathing towards banks as might have been expected and, indeed, his proposed bank reforms were greeted with disapproval by senior figures in the U.S. and Europe. Bank shares rebounded as a result with Barclays, HSBC, Royal Bank of Scotland (RBS), Standard Chartered and Lloyds Banking Group all ahead by between 03% and 3.4%.
It was a similar story for commodity stocks with miners rebounding across the board after Wednesday's losses due, in large part, to a series of bullish trading updates. Fresnillo, Xstrata, Anglo American, Lonmin and Kazakhyms were all up by between 0.4% and 1.3%.
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