Emerging markets woes weigh on FTSE but BT, Imp Tobacco support

London (AFP) – London’s FTSE 100 opened slightly lower on Friday as emerging markets turmoil weighed on Europe’s main stock markets, but upbeat news from telecoms firm BT group and a share buyback by Imperial Tobacco provided a buffer.

The index was 11.36 points down at 0920 GMT at 6,527.09, the index buffeted by a rush for an exit from developing markets due political and economic turmoil.

However, third quarter and nine-month results from BT group showing a record take up of its fibre optic services and an eight percent increase in profits before tax helped provide support. The stock was 2.8 percent at 381.30 pence.

Imperial Tobacco was the day’s second biggest riser after BT Group, with news of a share buyback helping the stock inch 3.12 percent higher to 2250 pence.

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