LONDON Dec 13 Profit-taking in energy stocks saw
Britain's top share index edge lower on Thursday as investors
balanced the impact of new monetary stimulus from the U.S.
Federal Reserve with concerns on the impact of austerity
measures on the world's largest economy.
After London's close on Wednesday, the Fed announced a new
round of monetary stimulus and indicated interest rates would
remain near zero until unemployment falls to 6.5 percent.
But Fed chairman Ben Bernanke warned that monetary policy
won't be enough to offset damage from a "fiscal cliff" of steep
tax hikes and budget cuts scheduled to kick in on Jan.
At 0806 GMT, the FTSE 100 index was down 4.57
points, or 0.l percent, at 5,941.28, having closed 0.4 percent
higher at a fresh nine-month closing peak on Wednesday.
Energy stocks, which had led the blue chips
higher on Wednesday, were the main drag on the index early on,
led by falls from BG Group, down 1.1 percent.
The energy firm named Chris Finlayson, currently managing
director for Europe and central Asia at the firm, as its new
chief executive from the beginning of January, replacing Frank
Chapman, who has had a 12-year tenure at the helm.
(Reporting by Jon Hopkins; editing by Simon Jessop)