Donnerstag, 20. Januar 2011

FTSE slips on China worries (AFP)

LONDON (AFP) ? London's main stock market posted a second straight day of losses on Thursday, as wary investors anticipated moves from China to slow its booming economy.

The FTSE 100 index of leading shares dropped 1.82 percent to 5,867.91 points.

The Chinese government had earlier posted 10.3 percent growth, but also stubbornly high inflation of 4.6 percent.

"Equity markets have slipped back a little as worries about further Chinese monetary tightening and rumours of a Greek debt restructuring dominate sentiment," said VTB Capital economist Neil MacKinnon.

Lloyds Banking Group (LBG) was the day's most traded stock, seeing 161 million shares switch owners, followed by Vodafone, which saw 87.4 million units change hands.

Barclays notched up the biggest gains of the day, climbing 2.4 percent -- or 7.1 pence -- to finish at 303.25, followed by utility giant National Grid, which added 1.51 percent, or 8 pence -- to finish at 539.

Software firm Invensys PLC was the worst blue-chip performer of the day, plunging 7.78 percent, or 27.8 pence, to end at 329.6, after analysts questioned whether it would be able to achieve the full-year results it has forecast.

It was followed by precious metals giant Fresnillo, which lost 5.87 percent -- or 84 pence -- to finish at 1346.

Meanwhile, the pound was down against both the dollar and the euro. At 17:08 GMT, sterling was trading at 1.5881 dollars, down from 1.5995 at the same time on Wednesday, while it stood at 1.1800 euros, down from 1.1844 over the same period.



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Source: http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/afp/20110120/wl_uk_afp/stocksbritainclose

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