The FTSE has gradually reversed earlier gains throughout the day, dropping below yesterday's closing level as markets wind down for Easter.
After this morning's positive retail figures, the FTSE has gradually lost momentum. Autonomy Corporation continues to lead the winners this afternoon, adding 7.69% to its share price after posting record revenue in the first quarter. Banks are also faring well, and soaring commodity prices have given miners a boost. The higher oil prices dealt a blow to cruise liner Carnival, however, which dropped 54.00 points (-2.22%) by 3.30pm London time. Bottom of the pile was Vodafone, which lost 6.35 points (-3.59%) after a profits warning from Dutch telecom group KPN NV.
Across the pond, the Dow Jones has opened well, boosted by a series of strong earnings figures. The Travelers Companies Inc shot to the top of the table after reporting strong earnings and a 14% increase in dividend payments to shareholders. The Dow Jones' gains were however kept in check by a weaker-than-expected job market report. The Labor Department revealed that the number of people who applied for unemployment benefits fell less than economists expected last week, to 403,000. This doesn't appear to have dampened sentiment too much though, with the Dow continuing to build on yesterday's highest close in almost three years.
