FTSE 100 falters as commodities weaken

By Rachel Cooper 1246PM GMT twenty-two March 2010

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FTSE 100

Eurasian Natural Resources Corporation

ICAP

Tullow Oil

The FTSE 100 pared behind new gains as the blue-chips tracked waste on the Asian markets as a warn seductiveness rate travel in India on Friday lighted uninformed fears that withdrawals of mercantile impulse could quell tellurian growth.

Global expansion fears strike commodity prices with mining and oil bonds unsatisfactory in their wake. Eurasian, Kazakhmys and Tullow Oil were all trailing the large-caps, down in between 2.5pc and 3pc in sunrise trading.

FTSE 100 falters as ICAP drops behind FTSE 100 slides 2pc as promissory note woes feature FTSE 100 slips as slack fears weigh on investors FTSE 100s six-day convene falters FTSE 100 slides as appetite producers weigh on the index Asian shares tumble as liberation hopes blur

Icap, the interdealer broker, was additionally lagging, down 2.7pc, after observant it will scale behind the money equities commercial operation in Europe and Asia. The move will cost Icap �51m and up to 114 jobs.

Smiths Group, the record engineer, was bucking the downward direction gaining 2pc after announcing that it is to enhance the US operations by shopping up Kansas City-based Interconnect Devices from a in isolation equity organisation for $185m.

Evolution Securities pronounced the "most engaging thing about Smiths merger is that it is being done".

"Smiths is seen as some-more of a seller than a customer but this understanding suggests that the organisation might be seeking at refocusing on the expansion businesses to become, by a total routine of disposals and acquisitions, a expansion midcap again, rather similar to the Smiths of old," the attorney added.

Among the really couple of risers, defensives were in foster with British American Tobacco and Imperial Tobacco gaining and pharmaceuticals managed to shake up off any worries surrounding the US healthcare check - that was upheld last night by Congress. AstraZeneca ticked up 1pc and GlaxoSmithKline gained 0.4pc.

Investec, creation the lass coming on the FTSE 100, ticked up 1pc receiving second place on the leaderboard.

Among the second-liners, Regus soared 8pc after the bureau let association posted increase that came in at the tip finish of marketplace expectations and pronounced it programmed to step up the series of openings in 2010.

"Regus is a transparent marketplace personality in what we cruise to be a expansion market," pronounced Investec researcher Wayne Gerry.