FTSE trading sideways, large losses for some stocks
After morning trading the FTSE 100 index showed little movement, down 0.14 per cent to 5,358.21 at 12:55 BST. Whilst mining stocks moved up the downside was substantial, as Invensys and Scottish & Southern Energy moved down by over 4 per cent.
Chris Bradshaw
shareprices.com - Wednesday, July 28, 2010
Integrated oil companies pulled the FTSE 100 index down, but a number of individual stocks applied even more pressure. Invensys is performing poorly, though the stock has recovered somewhat from morning losses reaching 6 per cent. Investors were not impressed with its level trading update, even though the company said it expects its earnings will remain steady – Invensys traded down 4.85 per cent by mid-day.
More good news for Tullow Oil as signs from its Ngiri-2 well in Uganda indicate that further exploratory efforts in the area might render finds of more oil reservoirs. Tullow oil is still sailing the wind of last week's announcement that it may have found an oil field off the coast of Ghana that could be as large as the Jubilee field which bumped the exploration company into the FTSE 100. Tullow Oil is up almost 1 per cent.
Miners including Xstrata, BHP Billiton and Rio Tinto gained 1 per cent or more. Financial stocks gaining include HSBC Holdings, Barclays and Schroders which were up 1.2 per cent, 0.88 per cent and 1.14 per cent respectively. Banks were helped by a Deutsche Bank strategy rating that went from "neutral" to "underweight", partly due to the Basel regulations that came out yesterday less strict than expected.
Latest News
- FTSE climbs as EU summit approaches
22 May 2012 - FTSE climbs as markets calm
22 May 2012 - FTSE falls further as ratings agency action worsens fears
20 May 2012
Related News
FTSE 100 Latest
| Value | Change |
| 5,403.28 | 98.80  |
Create a Watch List 
Track your favourite stocks
Create & monitor portfolios
Daily portfolio value
News
- FTSE climbs as EU summit approaches
22 May 2012 - FTSE climbs as markets calm
22 May 2012 - FTSE falls further as ratings agency action worsens fears
20 May 2012 - FTSE plummets further as Greece dominates markets
17 May 2012 - Greek crisis continues to pressure markets
16 May 2012 - FTSE plunges further as Greece heads for the polls...again
15 May 2012 - FTSE nosedives over Greece concerns
15 May 2012 - Late surge for FTSE to finish in the blue
14 May 2012 - FTSE breaks losing streak; aid reached Greece
10 May 2012 - FTSE crashes further over Greek uncertainty
9 May 2012
