The London market slipped in early deals today as travel related stocks fell after the US raised its security alert warning over the weekend. At 0910, the FTSE was down 8.6 points at 4,415.4. Cruise ship company Carnival and Intercontinental Hotels were both lower in early trade, falling 10p to 2253 and 0.5p to 538, respectively. Flag carrier BA bucked the trend with a 0.5p gain to 238.75. Financials were down in thin morning trade, with Abbey National 1.5p to the bad at 526.5, while Alliance & Leicester shed 1.5p to 881.5. HBOS dipped 2p to 723. Among insurers, Aviva gained 0.25p to 481.25.
Telecoms stocks were mixed to higher, with Vodafone the main mover of note. Shares in the group nudged ahead 0.25p to 137.25, while rival mm02 was stuck on parity at 76.75. Fixed line group BT rose 0.75p to 187. Oil stocks were hit as the price of crude fell back on fears for a mild winter. BP gave up 5.5p to 448.75, while Shell was down 3.5p at 406.75. Retailers recovered some last week's losses despite ongoing fears for the Christmas shopping season. Marks & Spencer was up 1p at 277, while Next added 3p to hit 1091.//www.fxcentre.com