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Fiscal cliff fears kill FTSE's Christmas spirit
by Dylan Lobo on Dec 21, 2012 at 11:38
Blue chips were trading well in the red in the last full day before Christmas as concerns about the US fiscal cliff returned.
The concern was sparked by news the Republicans are to abandon a vote on an alternative plan to avoid the fiscal cliff as party members rebelled against the prospect of raising taxes for millionaires. Under the plans Republican leader John Boehner was hoping to win concessions from president Barack Obama on the fiscal cliff.
At 10.57am the FTSE 100 had lost 50 points, or 0.83% to stand at 5,908.
Elsewhere Aviva gained 0.55% to 381.9p after it netted £1 billion from the disposal of its US business.
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