Vodafone is leading the FTSE 100 fallers after downbeat comments from its US partner Verizon.
At a conference yesterday Verizon reportedly indicated lower profits for 2009 than analysts had been expecting. At the same time it played down the prospect of buying Vodafone's 45% of their Verizon Wireless joint venture. Although the Wireless comments were not particularly unexpected, the whole package was enough to push Vodafone shares down 3.4p to 139.1p.
Following Vodafone's decline - which accounts for around 7 points on the leading index - and an opening dip on Wall Street, the FTSE 100 is currently 2 points lower at 5528.04. The index is getting some support from the banks, with Lloyds Banking Group up 2.24p at 56.83p after positive noises from UBS and HSBC, and Barclays 8p better at 315p.
But Royal Bank of Scotland is down 0.35p at 36.33p after talk its commodities joint venture with Sempra Energy - put up for sale after a European competition ruling - had attracted three bids worth around $4bn.
