Business

Britain’s FTSE dips in early deals as ex-divs weigh

Euro banknotes are seen in this picture illustration taken in Prague January 21, 2013. — Reuters picEuro banknotes are seen in this picture illustration taken in Prague January 21, 2013. — Reuters picLONDON, Feb 20 — Britain’s leading blue-chip index fell in early trade today, as a number of heavyweight firms traded ex-dividend, taking the FTSE back from the 5-year highs hit in the previous session.

Ex-dividend factors took around 8 points off the index, enough to take it into negative territory, as Barclays, Carnival, GlaxoSmithKline and Reckitt Benckiser all traded without entitlement to their latest payout.

Barclays, GSK and Reckitt were three of the top four fallers on the index in early trade.

By 0801 GMT, the FTSE 100 was down by 4.74 points, or 0.1 per cent, at 6,374.33, having risen 1 per cent to post its highest close in five years yesterday. — Reuters

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