Morning Markets: FTSE depressed by Greece plans and utilities

The FTSE was at 5708.41 in early trading, down 19.24 points or 0.34%, as investors reacted with caution to a eurozone bail-out plan for Greece.

The winners were dominated by property companies encouraged by a positive trading update from Songbird Estates, with Segro trading at 324p, up 0.71%, Hammerson at 389p up 0.78% and British Land at 471p, rising 0.47%. Utilities fared poorly with Cable and Wireless Worldwide dipping 1.9% to 92p and International Power at 325p down 1.4%, not helped by rating downgrades by JP Morgan. Scottish and Southern Energy also fared badly off the back of a downgrade from the bank, trading at £11.10 (down 1.42%). The poor showing for the FTSE came as the Dow Jones finished slightly up at 10,841.2...