FTSE 100 holds steady as investors await Ben Bernanke questioning

By Rachel Cooper Published: 12:26PM GMT twenty-four Feb 2010

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FTSE 100

Aviva

HSBC Hldgs

Admiral Group

Legal & General Group

The FTSE 100 stayed comparatively prosaic as traders kept their powder dry prior to Mr Bernanke faces doubt prior to Congress this afternoon on the figure of US mercantile recovery.

Financials were propping up the large caps during early sunrise trading, with HSBC tip of the pile. The bank ticked up around 2pc after reports that it has caved in to shareholders and axed plans to endowment the arch senior manager a compensate climb of some-more than a third.

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HSBC was proposing to enlarge Michael Geoghegans compensate by about one-third from �1.1m, but shareholders deserted the proposals among concerns of a rising recoil over bankers pay. Lloyds gained only over 1pc after resources manager, St James Place, that is 60pc owned by Lloyds reported increase at the top-end of forecasts and pronounced that certainty was recovering.

Joining banks on the leaderboard were insurers with Admiral Group , Legal & General and Aviva all on the rise.

Wolseley came at the back of to earth with a bump, swapping yesterdays bullion award when it gained some-more than 12pc - for a wooden ladle as it slipped at the back of over 2pc, creation it the large-caps greatest loser. Miners were underneath vigour as steel prices one after another to feel resigned following worse-than-expected consumer certainty total from the US. Randgold Resources slipped at the back of only over 1pc and Vedanta Resources was down 38p to �25.58 at midday.

Among the second-liners, MoneySupermarket shot to the tip of the leaderboard, gaining some-more than 5pc, after announcing it is to compensate a special division as the cost more aged site sees the commercial operation brace and trade urge in Feb as business lane down improved deals.

Bringing up the back at midday was Persimmon, that slid around 5pc after after the housebuilder peer, Barratt Developments pronounced first-half waste narrowed. Barratt was only at the back of Persimmon, down 6 to 123p.