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Sluggish open to London market FTSE slightly down in midday trade
(about 4 hours later)
(Open): London's benchmark index of blue-chip stocks started very slightly behind, with investors mulling over the continued Greek debt crisis and news of vast job cuts at HSBC. (Noon): London's benchmark index of blue-chip stocks was slightly behind at midday, with investors mulling over the continued Greek debt crisis and news of vast job cuts at HSBC.
In early trade on Tuesday the FTSE 100 was virtually unchanged, down a third of a point at 6789.75. At noon on Tuesday the FTSE 100 was down by 17 points, or 0.25%, at 6773.12.
Bank giant HSBC was down by 0.32% after announcing plans to cut 25,000 jobs globally, including 8,000 in the UK. Bank giant HSBC was down by 1% after announcing plans to cut 25,000 jobs globally, including 8,000 in the UK.
Rival Barclays was one of the top early gainers, ahead by 0.94% at 264.45p. Winners included Reed Elsevier, Mondi, BT Group, and Intu Properties.
Other winners included Reed Elsevier, Morrison Supermarkets, and Intu Properties. Miners led the fallers, with Anglo American and Rio Tinto down by 1.96% and 1.54% respectively.
Miners led the fallers, with Anglo American and Rio Tinto down by 1.94% and 1.37% respectively. Other lunchtime losers included Admiral Group and Aviva.
Other early losers included Admiral Group, Taylor Wimpey, and Aviva. On the currency markets, the pound was down 0.36% against the dollar to $1.5294, and down 0.24% against the euro to €1.3565.
On the currency markets, the pound was down 0.43% against the dollar to $1.5284, and down 0.35% against the euro to €1.3551.