Arab Today, arab today london shares lower as imf highlights uncertainty
Last Updated : GMT 14:26:32
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London shares lower as IMF highlights uncertainty

Arab Today, arab today

Arab Today, arab today London shares lower as IMF highlights uncertainty

London - AFP

Shares fell in early London trade on Tuesday, after the International Monetary Fund said the outlook for economic growth in Britain \"is subject to considerable uncertainties.\"The benchmark FTSE 100 index eased 17.34 points or 0.30 percent to 5,757.09.Shares in Barclays fell 0.44 percent to 216.05 pence after the bank revealed that net profit slid 38 percent in the six months to June as investment division revenues fell and it set aside £1.0 billion to compensate clients who were mis-sold credit insurance.However, net profit of £1.50 billion was still well ahead of average market expectations of £1.31 billion, based on analysts\' estimates polled by Dow Jones Newswires.\"I am pleased with the progress made across Barclays in the first half,\" Chief Executive Bob Diamond said in the earnings release.\"We have delivered underlying profit before tax up 24 percent ... despite a lacklustre economic environment in many of our major markets which impacted income generation. Rival bank HSBC rose gained 1.33 percent to 615.60 pence following its announcement that it will hire about 15,000 people in emerging markets by 2014 as it looks to Asia\'s booming financial sector to power future growth.1.27 percent to 615.20 pence.Standard Chartered, another London-based bank with big Asian operations, gained 1.61 percent to 1,576 pence.Stockbroker Hargreaves Lansdowne was the main faller, shedding 7.67 percent to 535.50 pence amid discussion about proposed changes in the rules for its key business of execution-only share trading.Internationally, dealers said relief that a US debt deal appears to have been reached was tempered by anxiety about the US economy after the the US Institute of Supply Management announced that the index based on its purchasing managers\' survey fell to 50.9, down from 55.3 the previous month

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