FTSE largely unchanged in early trading
By myfinances.co.uk staff
The FTSE 100 Index was little changed at 5,333.94 in early trading as stocks swung between gains and losses, a rally in raw-materials stocks offsetting declines at Barclays and London Stock Exchange Group.
Barclays retreated 3.4 per cent to 273.4p while the Lond Stock Exchange Group slid 2.2 per cent to 679.5p. Both helped to lead financial shares lower, after President Obama announced proposals that would prohibit US banks from running proprietary trading operations and may lower trading volumes.
Rio Tinto added 1.2 per cent to 3,335.5p and BHP Billiton gained 1 per cent to 1,962.5p leading mining shares higher after declining for two straight days.
The FTSE 100 has fallen 2.2 per cent so far this year, although it is still 51 per cent higher since March as more than $12 trillion committed by governments around the world boosted equity markets.
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