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Direct Line leads FTSE 100 downward | Direct Line leads FTSE 100 downward |
(about 4 hours later) | |
(Noon): London's leading shares dipped in Thursday morning trading, with insurance firm Direct Line leading the downward trend. | |
By lunchtime, the FTSE 100 was down 0.22% or 13.4 points at 6,132.92. | |
Direct Line, which shed 6.66%, was one of several companies going ex-dividend. Others included Barclays and BHP Billiton, which also lost ground. | |
Supermarket chain Morrisons, which recently returned to the FTSE 100, was another big faller, sliding 2.7%. | |
The decline came after the retailer saw a further drop in annual profits as a result of the price war in the supermarket sector. | |
On the currency markets, the pound fell 0.06% against the dollar to $1.4209, but rose 0.15% against the euro to €1.2942. |