FTSE 100 flat after rally

Thursday 16th July 2009

The FTSE 100 rose just 0.02 per cent by 08:45 BST to 4,347.23 after yesterday's rally.

Mining stocks made way for the energy and finance sectors, with investment firm Schroders leading the rise, up by 4.98 per cent.

Petrofac followed with a 4.47 per cent rise and Old Mutual was up by 2.97 per cent.

Several stocks had slipped into the red, however. Technology firm Autonomy Corporation was down by 6.9 per cent, while drinks group Diageo dropped by 1.45 per cent on the blue-chip index.

Overnight, US markets enjoyed a surge in optimism after results from Intel came in ahead of expectations and Federal Reserve officials said the rate of economic contraction has begun to slow.

The Dow Jones was up by 3.07 per cent, while the S&P 500 was up by 2.96 per cent. ADNFCR-1783-ID-19267804-ADNFCR

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