FTSE 100 drops 0.25%

The FTSE 100 fell 0.25 per cent to 5,457.20 this morning at 9:49 BST – after yesterday's falls.

Energy and commodity stocks provided some support for the index with Petrofac rising 3.71 per cent after the firm reported a 57 per cent jump in net profits to $121.2 million in the first half of 2008.

With energy facilities firm Petrofac seeing demand staying strong, Cairn Energy followed suit up 2.12 per cent.

Miner Eurasian rose 1.80 per cent and Centrica gained 1.43 per cent.

Group 4 Securicor - now known as G4S – rose 2.25 per cent after its profits were up 21 per cent following Middle East expansion.


Enterprise Inns continued its poor form from yesterday dropping 3.42 per cent, while insurer Admiral Group was down 3.02 per cent.

Schroders was down 2.66 per cent, while retailers Next and Marks & Spencer both dropped 2.40 per cent as concerns about high street spending re-emerged.

Last night on Wall Street, the Dow Jones was up 0,23 per cent after Monday's falls, while the Cac 40 and Dax in Europe both opened down one per cent.

Sterling was up against the dollar and down against the euro to $1.84550 and €1.25375.