FTSE 100 flat after falls

FTSE 100 flat after last night's falls

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Friday, 03, Jul 2009 09:25

The FTSE 100 was flat this morning after yesterday's sharp falls on US unemployment data.

After opening just four points higher, the index fell back to 4,234.22 by 08:50 BST, as banking stocks offset a fall in insurers and the energy sector.

Publishing firm Reed Elsevier was up by 1.65 per cent, while Royal Bank of Scotland rose by 1.19 per cent and HSBC was up by 0.96 per cent.

Friends Provident was down by 7.4 per cent, after the insurer demerged from F&C Asset Management, while Standard Life fell by 0.87 per cent.

Over in the US, markets closed lower following US employment figures showed the jobless rate rose in June to 9.5 per cent – the highest level since 1983.

The Dow Jones was down by 2.63 per cent, while the S&P 500 fell by 2.91 per cent.