FTSE hovers ahead of US jobs figures

Britain’s FTSE wobbled today ahead of US jobs figures as European developments gave no cause for celebration.

The benchmark UK index of blue-chip shares inched ahead 0.18%, or 13 points, to 5,807 and the Mid-250 crept up 0.09%, or 11 points, to 11,097.

Eagerly awaited US jobs figures are forecast to be unchanged from December, when 8.5% of the population were out of work.

Insurer Admiral (ADML.L) darted ahead 76p, or 8%, to £10.38 to the top of the FTSE 100 index on a reinsurance deal.  

The deal will see Admiral hold on to its partnerships with Hannover Re and Mapfre until 2014 with no added costs. Analysts at Peel Hunt repeated their ‘buy’ recommendation on the stock following the news.

See the FTSE’s performance and the index’s top winners and losers.

No movement in Greek debt talks

No deal has been reached on a haircut for private Greek bondholders, and no agreement is expected until next Monday, when European Union finance ministers will meet in Brussels.

Michael Hewson, senior analyst at CMC Markets, said: ‘This meeting will attempt to agree a new bailout, the size of the haircut applied to private bond holders, as well as new reforms the Greek government needs to undertake, which it is hoped finally draw a line under this long-running saga.'

Other stock markets in Europe also wavered: Germany’s DAX index gave up 0.15% to 6,645, France's CAC 40 index dropped 0.2% to 3,370, and the FTSEurofirst 300 index of top European shares added 0.04% to 1,059.

BT hits 2013 targets a year early

BT Group (BT.L) added 3.3p, or 1.6%, to 209p as its pre-tax profits increased from £441 million to £652 million during the third quarter. The group now expects to meet its £6 billion earnings before tax target for 2013, a year earlier than planned.

Misys (MSY.L) fell back 1.9p, or 0.58%, to 323p as it was revealed the banking software company is in merger talks with its rival Temenos Group.

Game Group (GMG.L) surged 1.7p, or 31%, to 7p as the retailer was thrown lifeline by its lenders to revise its banking agreements and avoid a default on its debts.