FTSE rises in first hour of trading
A subdued London market has paused for breath after grim US unemployment data caused shares to slide on Thursday afternoon.
The FTSE 100 Index, which slumped more than 2%, recovered its poise to stand 12.1 points higher at 4246.3 after an hour of trading.
With little in the way of corporate news and US markets shut for Independence Day, traders were not expecting a surge in activity.
British Airways may attract interest later in the session as the under-pressure company is due to post traffic figures for June.
In the meantime shares rallied 0.9p to 119.9p.
Banks also featured on the risers board, with Royal Bank of Scotland up 0.47p at 38.37p, Lloyds Banking Group ahead 0.43p at 66.33p and Barclays 2.05p stronger at 291.05p.
Insurer Friends Provident fell more than 7%, down 5.14p to 62.95p, after it completed the offloading of its majority stake in F&C Asset Management to its own shareholders.
The disposal of the asset management firm will allow it to focus on the task of reviving its core business.
On a quiet day for corporate news, Balfour Beatty shares were 3.5p lower at 304.75p after the construction firm said it had been trading in line with expectations.
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