FTSE dips after record rise
After its biggest one-day percentage rise last night, the FTSE 100 fell back slightly this morning.
FTSE dips after record rise" class="imageframe alignright" height="200" src="http://pictures.directnews.co.uk/liveimages/global+markets_1455_18893082_0_0_7004870_300.jpg" width="200"/>After its biggest one-day percentage rise last night, the FTSE 100 fell back slightly this morning.
The index had lost 56 points by 08:50 GMT but at 4,096.87, stayed above the 4,000 mark.
BHP Billiton was the biggest winner this morning, up over ten per cent on the announcement it has dropped its bid for rival mining group Rio Tinto.
In contrast, Rio Tinto shares fell over 36 per cent in early trading.
Yesterday's Citigroup rescue and pre-Budget report appear to have benefited banking stocks, with HBOS up 5.81 per cent, Lloyds TSB up 4.07 per cent and Royal Bank of Scotland trading 2.36 per cent higher.
Overnight, the US Dow Jones remained flat, while in Japan the Nikkei rose 413 points.