Newspaper article The Journal (Newcastle, England)

Italians Help Index to Slide Again

Newspaper article The Journal (Newcastle, England)

Italians Help Index to Slide Again

Article excerpt

Byline: FTSE 100 Jeffrey Ball Brewin Dolphin

CONTINUING investor indecision yesterday meant that the FTSE 100 Index changed direction for the third day in a row, giving back Tuesday's gains to slide 12 points and end the day's trading at 6388.

With markets still watching as Cyprus reels from its banking crisis, news that Italy is struggling to form a new government after last month's inconclusive election did little to calm investor nerves. Despite leader of the Democrats Pier Luigi Bersani meeting with Silvio Berlusconi, leader of the People of Liberty party, the two groups still could not break the ongoing stalemate.

FTSE 100 Index member TUI Travel was one of the biggest risers of the day, its shares rising 4% to 322.8p. The holiday operator's chief executive Peter Long said: "Our strong operational performance over winter means we will deliver reduced winter losses. This very strong trading has continued into summer 2013, leaving us well-placed to achieve a full-year performance towards the upper end of our growth targets. …

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