FTSE 100 Pares Early Gains; SSE Soars 12%
(RTTNews) - After opening marginally higher and moving up a bit subsequently, the U.K. market's FTSE 100 slipped into negative territory on Wednesday, with investors looking for direction and largely refraining from making significant moves.
The FTSE 100, which advanced to 9,927.38 earlier in the session, was down 6.55 points or 0.07% at 9,893.05 about half an hour past noon.
SSE is soaring 12% after Jefferies called the company's announcement of a £2 billion share placing, a positive mote. The company aims to use the proceeds to help fund its £33 billion investment program through 2030, focused on UK power networks and renewables.
Games Workshop is gaining 5.5%, and Burberry Group is climbing up 4.5%. Metlen Energy & Metals is advancing 2.3%, while IAG, Aviva, Rio Tinto, Croda International, HSBC Holdings, Polar Capital Technology Trust, Howden Joinery Group and Phoenix Group Holdings are up 1 to 2%.
3i Group, Tesco, Experian, Auto Trader Group, Compass Group, EasyJet, Next and Berkeley Group Holdings are down 2 to 4%.
Housebuilder Taylor Wimpey is down more than 3% after weekly average for number of private sales per site dropped 11 percent in key autumn period.
BAE Systems, which moved up more than 1% in early trades after backing its annual outlook, gave up its gains subsequently and was down 0.4% a little while ago.
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