Afternoon Markets: Insurers flourish in flat FTSE trading

London markets were mixed as the afternoon progressed, with the FTSE 100 down just 2.35 points (0.06...

London markets were mixed as the afternoon progressed, with the FTSE 100 down just 2.35 points (0.06%) to 3,712.88 shortly before 3pm. Insurers made significant gains after refusing the Bank of England's initial offer to buy-up gilts, with Old Mutual shares up 9.86%, Prudential adding 9.1% and Legal & General shares climbing 8.24%. However, Lloyds Banking group shares fell on continued fears the Government may nationalise the troubled bank. The energy sector continued to fall, with Tullow Oil down 6.46%, International Power dipping 5.41% and Cairn Energy shares losing 5.03%. British...