Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a701578
BG production warning sucks energy from FTSE
by Dylan Lobo on Sep 09, 2013 at 09:52
The FTSE 100 was slightly higher in early trade after a production warning from BG Group took the shine off a big GDP upgrade in Japan and some positive news in China.
At 9.30am the FTSE 100 was three points higher at 6,537.
London shares had been tipped to start the week on a positive note after overnight data showed Chinese exports rose by a stronger-than-expected 7.2% in August, while imports jumped by 7%. A separate report showed Chinese inflation eased from 2.7% to 2.6%.
Meanwhile shares in Japan were in demand after the nation's economic growth in the second quarter was upgraded from 0.6% to 0.9%, with news the country had won the battle to host the 2020 Olympics adding to sentiment.
However, BG missed out on the party after warning that delays in production in Egypt and Norway would reduce its output in 2014. Shares in the firm lost almost 4% to stand at £12.31.
Burberry was the best performer in early trading, up 33p, or 2.1%, at £16.33.
News sponsored by:
Today's top headlines
More about this:
Look up the shares
On the road
on Dec 10, 2013 at 12:57