FTSE flat despite strong performances in US and Asia

London's leading index started trading sluggishly, despite the Dow Jones yesterday closing up for the sixth consecutive day and the Nikkei hitting a nine-month peak overnight.

The FTSE is down 0.26% to 6,035.49 and has so far been unable to capitalise on this morning's positive retail figures which have risen to their highest level since last March. According to the British Retail Consortium, like-for-like retail sales rose by 2.3% in January, compared to a fall of 0.7% the previous year. However, the news has driven the pound to strengthen for the first time in four days, up 0.06% to $160.12. Other major European indices have mirrored the FTSE's flat opening, with the Dax down 0.10% to 7,276.67 and the Cac 40 falling 0.24% to 4,081.17. In the US, a w...