FTSE 100 ends day flat
FTSE 100 ends day flat
Monday 5th October 2009
The FTSE 100 held flat on Monday – with small gains in the last hours matching the US.At close, the index was up 0.71 per cent – or 35.63 points – to 5,024.33.
Meanwhile in the US, at 11:45 EDT (16:45 BST) the Dow was up 0.61 per cent to 9,545.71, while the S&P 500 was up 0.82 per cent.
Miners led most of the gains today in London.
Anglo American rose 3.97 per cent, Eurasian gained 4.71 per cent and Antofagasta climbed 3.68 per cent.
Royal Bank of Scotland rose 4.12 per cent and RSA Insurance gained 4.31 per cent.
Wolseley was down 1.08 per cent, Friends Provident fell 0.83 per cent and Diageo dropped 0.79 per cent.
Joshua Raymond, market strategist at City Index, said: "European equities started the week positively, making gains on Monday, however gains were limited and investors were quite clearly still rattled from last weeks losses."
He explained in the last six months, once indices have dropped one to three per cent, traders have dipped back in aggressively to buy from lows.
"This has not happened today and investors are clearly a little apprehensive after some poor bouts of economic data that has thrown the global recovery into question," Mr Raymond said.
He added the start of the third quarter earnings season in the US could provide the motivation for European markets but a "correction of five to ten per cent cannot be discounted given the rally of the last six months".
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