Bank gains offset miner weakness, FTSE steady

Fri Nov 13, 2009 9:38am GMT
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* FTSE 100 up 0.1 percent

* Gains in banks offsets weakness in miners and energy firms

* BA up after it agrees to merger terms with Spain's Iberia

By Harpreet Bhal

LONDON, Nov 13 (Reuters) - Britain's top share index was litle changed early on Friday, as strength in banks offset weaker miners with investors awaiting U.S. data, while British Airways (BAY.L: Quote, Profile, Research) rose after agreeing to a merger with Iberia.

By 0914 the FTSE 100 .FTSE was up 3.76 points at 5,280.26 points, a day after closing at a three-week high.

The index is up 2.7 percent this week and has so far rebounded 53 percent since hitting a floor in March.

British Airways (BAY.L: Quote, Profile, Research) climbed 3 percent, following its announcement on Thursday of a prelimiary agreement for a $7 billion merger with Spain's Iberia (IBLA.MC: Quote, Profile, Research) to create the world's third-largest airline by revenue. [ID:nLC092017]  Continued...

 
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