FTSE subdued in face of Dubai concerns

London investors are still wary after last week's request by Dubai World for a six-month standstill on debt repayments raised concerns about possible default.

Fears have risen the weekend as the central bank of the United Arab Emirates (UAE) set up a liquidity facility to help shore up its financial system. The FTSE fell 22 points, or 0.4%, to 5,224.26 shortly after markets opened, but has since started to climb. Despite gains across Asian equity markets, fears Dubai could be forced to sell some UK assets hit shares in those companies seen as most exposed. Standard Chartered, in which Dubai World affiliate Istithmar has a 2.7% stake, fell 0.3 per cent to £15.16, while the London Stock Exchange, which is 21% owned by Borse Dubai, lost 1.6...