Caution returns to FTSE as index falls

 
 

Tuesday, 15, Dec 2009 10:31

Britain's top share index fell 0.47 per cent by 10:00 GMT, as investor caution returned.

The FTSE 100 was buoyed on Monday after an announcement from Abu Dhabi that it would be giving $10 billion in funds to Dubai to avoid defaulting on debt.

But on Tuesday morning caution returned, with the FTSE down 24.99 points, at 5,290.35.

Banking stocks were down, with Barclays and HSBC falling 1.97 per cent.

Following an announcement yesterday that British Airways (BA) cabin crew would be on strike for 12 days over Christmas, the airline's shares were down 2.69 per cent this morning, making it the biggest faller on the FTSE 100 in early trading.

Meanwhile, UK inflation picked up in November, with the consumer price index (CPI) rising from 1.5 per cent in October to 1.9 per cent. The Office for National Statistics (ONS) said the rise was fuelled by petrol prices, and marked the highest rate since May.

There was also good news for the housing market, with the Royal Institution of Chartered Surveyors (Rics) reporting house prices were being driven up by a lack of supply.

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