FTSE 100 dips in early trading
Friday 31st October 2008, 9:06AM GMT.
The FTSE 100 opened slightly higher this morning but started falling again in the first few minutes of trading as mining stocks fell.
By 08:08 GMT the index had fallen 1.18 per cent, or 50.36 points, to 4,239.02. BT Group led the decline, with shares down 17.59 per cent by 08:06 GMT following a surprise profit warning.
Miner Kazakhmys followed, down 9.96 per cent, with energy supplier Centrica close behind after falling 8.24 per cent.
However, news this morning that Barclays is close to raising £6 billion in capital from investors, helped boost the bank’s share price 6.7 per cent by 08:14 GMT, making it the highest riser on the index.
HBOS was also up again, by 5.32 per cent at 08:14 GMT, with its stock worth 99p, an improvement from its recent low of 56.50p.
The Dow Jones closed 189 points up to 9,180 last night, despite a report showing GDP contracted in the third quarter as consumer spending collapsed.
Asian markets fell after a three-day rally came to an end, with Japan’s Nikkei finishing five per cent lower and the Hang Seng index down 2.52 per cent.
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