FTSE 100 up slightly as BA drops
FTSE 100 up slightly as BA drops
Monday 26th October 2009
The FTSE 100 was steady during the first hour on Monday morning.At 08:59 GMT, the index was up 0.08 per cent to 5,246.74 – gaining 4.17 points.
Pharma stocks too the lead, with Shire up 1.93 per cent – as US authorities confirmed the firm has a five-year exclusivity on its patents for an attention-deficit hyperactivity disorder (ADHD) drug.
AstraZeneca climbed 1.25 per cent on high hopes for its swine flu vaccine, while Reckitt Benckiser rose 1.17 per cent.
Standard Chartered rose 1.03 per cent and Serco was up 0.96 per cent.
British Airways was down 3.05 per cent after fears a proposed link-up with Spain's Iberia and American Airlines could be stymied by European competition authorities.
Royal Bank of Scotland and Lloyds Banking were down 1.81 per cent and 1.80 per cent respectively as concerns continue over their involvement in the government's asset protection scheme.
Prudential was down 1.50 per cent.
Overnight, Asia saw positive trading with the Nikkei up 0.77 per cent and the Hang Seng gaining 1.71 per cent.
Muted gains were seen in Paris and Frankfurt with the Cac 40 up 0.15 per cent and the Dax up 0.31 per cent.
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