FTSE consolidates rally, stalls at 5,700

July 19, 2012 8:28 AM GMT

The FTSE 100 was modestly higher in early deals on Thursday, consolidating the previous session's strong rally as a major assault on the psychologically important 5,700 level failed to materialise.

At 08:14 a.m. British time, the FTSE 100 index was up 3.05 points, or 0.1 percent, at 5,688.82, having jumped 1 percent on Wednesday to its highest level in nearly two weeks.

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Kingfisher proved the major drag on blue-chip sentiment, down 2.6 percent and the top FTSE 100 faller, as Europe's biggest home improvement retailer reported flat like-for-like sales in the second quarter, impacted by adverse weather conditions.

(Reporting by Jon Hopkins; editing by Simon Jessop)

Copyright 2012 Thomson Reuters UK. All rights reserved.

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