FTSE 100 holds firm in face of Dubai chaos

Monday 30th November 2009

The FTSE 100 was down only slightly in early trading on Monday morning, despite the news the Dubai market has plummeted by some six per cent as uncertainty continues in the region.

By 09:54 GMT the London index was down 42.66 points, 0.81 per cent, to 5,203.07.

As with last week the banks were continuing to suffer in face of the worries over Dubai's economic structure.

Royal Bank of Scotland saw its shares drop 3.94 per cent to 33.36p.

The revelation that Dubai World, a government holding company, would need to delay repayment of their £35 billion debt has sent shock waves through the global markets last week.

However, the FTSE 100 remained relatively stable in early trading.

Thomas Cook saw some of the biggest gains in the morning, up 1.57 per cent after announcing rising annual profits. ADNFCR-1783-ID-19484846-ADNFCR

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