FTSE flat as market reacts to Obama plans
FTSE flat as market reacts to Obama plans
Friday 22nd January 2010
Despite the Dow Jones and the Nikkei seeing shares tumble on the back of Barack Obama's banking reform announcement, the FTSE 100 remained flat in early trading on Friday.As investors reacted to the news that the White House was looking to limit the size and scope of banks in the US, Britain's leading share index saw banks hit in early trading boosted by mining firms.
At 10:00 GMT the FTSE 100 was flat, at 5,334.85 points. However, investors have warned the stocks could be hit by the banking changes.
Barclays was the worst to be hit in early trading, shedding 4.12 per cent, while Royal Bank of Scotland lost 2.27 per cent.
Off the back of the Kraft takeover at the beginning of the week Cadbury remained weak down 0.84 per cent.
But the share index was buoyed by Vodafone, up 1.04 per cent and recovering losses from yesterday, while Tullow Oil and Kingfisher led the gainers up 1.64 per cent and 1.57 per cent respectively. Lloyds Banking was also healthy in early trading, up 1.50 per cent.
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