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London stock market opens lower

Business Materials 5 November 2008 13:14 (UTC +04:00)

The London stock market failed to follow the bounce seen in Asia in Wednesday's early trading, which followed the election of Barack Obama as U.S. president, reported Xinhua.

In the first few minutes of trade the FTSE 100 index fell almost 2 percent, giving up some of the 4.4. percent increase seen on Tuesday.

By 08:50 GMT The FTSE 100 index was down 79.28 points, or 1.71 percent, at 4,560.22, with mining shares trading lower after metals prices fell.

Firstgroup rose 2.5 percent after the transport group reported a 44 percent rise in half-year profits.

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