Reuters
Published Oct 16, 2009 08:04AM ET
* FTSE 100 down 0.5 percent
* Banks biggest fallers after BofA, GE earnings figures
* Energy stocks rise as crude oil price hits year high
By Tricia Wright
LONDON, Oct 16 (Reuters) - Britain's top share index was
lower at midday on Friday, led by banks after quarterly earnings
numbers from Bank of America Corp
At 1145 GMT, the FTSE 100 <.FTSE> was off 26.47 points, or 0.5 percent, at 5,196.48, after closing down 0.6 percent at 5,222.95 on Thursday.
Bank of America, hit by consumer credit losses, posted its second quarterly loss in less than a year, while General Electric reported better than expected earnings but revenue missed expectations. [ID:nN15485899] [ID:nN16143307]
"There is a bit of a story with the banks that possibly
JPMorgan
"And at the margin it's difficult for the banks -- you saw
it with Goldman
Banks took the most points off the index, with Barclays
Lloyds Banking Group
Miners were also out of favour, extending Thursday's falls
against a backdrop of easing metals prices. Rio Tinto
Energy stocks rose, with crude CLc1 above $77 a barrel after touching a one-year high earlier on an unexpectedly steep drop in U.S. oil product stocks and weakness in the dollar.
BG Group
Among mid-cap issues, bus and rail operator National Express
U.S. September industrial output and capital utilisation numbers were due at 1315 GMT, followed by the preliminary reading for October's University of Michigan consumer sentiment index at 1355 GMT. (Editing by ; Editing by Dan Lalor)
Written By: Reuters
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