Friday August 8, 10:55 AM
Market overview: Footsie flat as oil and metals fall
LONDON (ShareCast) - 1050: Footsie (news) is broadly flat now, with building supplies group Wolseley (LSE: WOS.L - news)
now leading the way. The lower oil price boosts British Airways (LSE: BAY.L - news) and cruise operator Carnival (NYSE: CCL - news) , but sends Tullow Oil (Dublin: TQW.IR - news) lower. Kazakhmys (LSE: KAZ.L - news) leads miners lower in line with falling metals prices. In the FTSE 250 (news) , Northern Foods (LSE: NFDS.L - news) moves up after Goldman Sachs (NYSE: GS - news) raised its rating on the Goodfella's pizza maker to 'buy' from 'neutral'. FTSE 100 down 3 at 5474.0920: Footsie stays lower, with mining companies the main fallers on lower metals prices. Ferrexpo (LSE: FXPO.L - news) leads the sector, and the FTSE 100, lower. Oil prices are lower though, helping fuel guzzlers stocks British Airways and cruise operator Carnival to advance. FTSE 100 down 8 at 5,468. 0830: Footsie has started lower with British American Tobacco (LSE: BATS.L - news) down after Richemont said it would restructure its stake in the tobacco firm. RBS (LSE: RBS.L - news) is higher despite reporting its first loss in 40 years as a publicly traded company after booking credit market writedowns of £5.9bn. The £691m loss for the half-year was lower-than-expected. FTSE 100 down 17 points to 54
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