FTSE in negative territory
The FTSE 100 Index was in negative territory today after traders in New York returned from the public holiday in downbeat mood.
The Dow Jones Industrial Average was barely changed last night and meant investors in the City were given little reason to put new money on the table.
It left the FTSE 100 Index 13.8 points lower at 5967.9 by mid-morning, with Currys and PC World owner DSG International amongst the biggest fallers.
Shares in DSG headed south despite a solid trading update from the electrical retailer, including an 8% sales rise in the UK. The stock, which has enjoyed a strong run recently, fell 6p to 203.75p.
Mining stocks were enjoying a mixed morning with Kazakhmys leading the risers board with a gain of 25p to 1356p, while Vedanta Resources was close behind - lifting 21p to 1442p.
But it was not so buoyant for BHP Billiton, which fell 26p to 1024p, while Xstrata and Rio Tinto also traded in negative territory – down 40p at 2436p and 27p at 890p respectively.
Retailer Woolworths generated interest outside the top flight after a report in the Financial Times indicated it may be a bid target for the acquisitive investment group Baugur. Shares jumped 1.25p to 35.5p.
Stock in retailer Game Group suffered a 7% knock following news the European launch of Sony’s long-awaited PlayStation 3 games console had been delayed until March 2007.
The system will be still be launched in the US and Japan in November, but has run-up against production problems in Europe. Shares in Game fell 6p to 85p.
Meanwhile, housebuilder Wilson Bowden fell 52p to 1698p as it reported a fall in half-year pre-tax profits to £85.5 million from £99.6 million in 2005.
