FTSE fluctuates in choppy session
The FTSE100 dipped into the red after showing early promise on Wednesday as ex-dividend factors , negative economic data and concerns over Europe ensured choppy trading conditions.
The blue chip index was down 1.06% to 5455.85 at 1137GMT with BskyB and Vodafone both recording falls of more than 3.5% as they traded ex-dividend.
ICP also proved a drag, tumbling 4.5% despite reporting a rise in profits. Fund manager Schroders dived 4.8%.
At the other end of the index, investors cheered updates from Intertek and Meggit, while worries over Europe's debt crisis continued.
Intertek pared early gains but remained up 2% as it reported an 8% rise in underlying revenue and said it expected the diversity of its business to help it continue to achieve single-digit growth.
Aircraft parts supplier Meggitt, which was downgraded by Citigroup recently on valuation grounds and hosts an investors seminar on Wednesday, rose by the same amount as it announced contract wins in Australia.
In the UK, unemployment rose more than expected while markets failed to show a big positive reaction to the Bank of England’s inflation report, which paved the way for further quantitative easing. Meanwhile, investors remained jittery as the political and economic outlook in the euro zone remained uncertain.
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