FTSE 100 avoids falling into red

Thursday 12th November 2009

The FTSE 100 managed to stay out of the red to end Thursday at 5,276.50, 0.19 per cent higher than last night.

Satellite communication firm Inmarsat led the index, rising 6.89 per cent, after entering the MSCI World index – which means that funds that track this index will have to buy shares in the firm, boosting its price.

British Airways also saw its stock jump, after the airline confirmed it is in talks with Spain's Iberia to discuss a potential merger.

Shares in the airline rose 6.65 per cent, to hit 213p.

Several stocks on the index offset these gains, however.

Energy services firm Amec fell 5.02 per cent on news its order book had dipped since the end of June, followed by a 4.09 per cent fall for 3i.

The private equity group said asset values rose by just two per cent in the first half, which was not enough to impress investors.

Mining stocks Fresnillo, down by 1.74 per cent, and Kazakhmys, down by 1.63 per cent, also weighed on the blue-chip index. ADNFCR-1783-ID-19457844-ADNFCR

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