Finance Times

Tuesday, September 29, 2009

FTSE execute wn, commods offset banks

By Simon Falush

LONDON (Reuters) - The top share index retreated slightly in early trade on Tuesday with weakness in energy stocks outweighing gains in financials as investors paemploy d for breath after sharp gains the previous session.

By 8:55 a.m. the FTSE 100 .FTSE was 12.30 points lower at 5153.40 after closing 83.50 points higher on Monday at 5,165.70, boosted in the afternoon by strength on Wall Street.

Energy stocks were the enormous gest drag on the index as investor sentiment on the demand outgaze chilly ed.

BP (BP.L), Royal Dutch Shell (RDSa.L), BG Group (BG.L), Tullow Oil (TLW.L) and Cairn Energy (CNE.L) fell between 0.5 and 1.4 percent.

However, the FTSE is still up 16.3 percent this year, having soared 49 percent since touching a six-year trough in March.

"After the storming day yesterday, label ets are prone to sell off, portion icularly with so much uncertainty," said Peter Dixon, economist at Commerzbank."

Miners were also weaker, weighed by weaker copper and aluminium prices. Rio Tinto (RIO.L), Xstrata (XTA.L), Lonmin (LMI.L), Anglo American (AAL.L) and Kazakhmys (KAZ.L) fell 0.3-1 percent.

BNP BOOSTS BANKSĂ‚  Continued...

No comments:

Post a Comment

Tech Guy
A passionate Finance enthusiast who loves to write about the latest happenings
soccnut.Finance@blogger.com

Subscribe feeds via e-mail
Subscribe in your preferred RSS reader

Subscribe feeds rss Recent Entries

Advertise on this site Sponsored links

Categories

Sponsored Links

My Photos on flickr

Subscribe feeds rss Recent Comments

Technorati

Technorati
My authority on technorati
Add this blog to your faves
............................................................ . . . . . . . . . . . .