FTSE 100 steadies after sharp rises
FTSE 100 steadies after sharp rises
Tuesday 5th January 2010
The FTSE 100 started down on Tuesday, but edged up to 0.10 per cent by 10:30 GMT.The UK's top share index enjoyed a positive start to the new year, after closing up 1.62 per cent yesterday, its highest close since the collapse of Lehman Brothers.
But after the jubilant beginning to 2010, investors indicated caution on Tuesday, as the FTSE steadied.
A warning from Next that profits could be flat, and that it did "not necessarily expect the year ahead to be as good as the previous six months", despite its better-than-expected sales, saw it take the title of biggest blue-chip faller on Tuesday morning, down 2.48 per cent. There was also bad news for the British institution Marks & Spencer, which was down 1.92 per cent in early trading.
As Nestle announced it would not be issuing a bid to takeover Cadbury, the UK confectioner's shares fell 1.99 per cent.
Leading the way in this morning's trade was Royal Bank of Scotland Group, up 7.88 per cent.
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