Global markets weigh on FTSE

A poor session in Asia this morning and unconvincing display on Wall Street overnight weighed on the FTSE 100 as it opened four points down at 5,673.

The Japanese Nikkei lost 2% after some disappointing earnings and on worries about next week's US Federal Reserve meeting to decide quantitative easing strategy, while US markets closed fairly flat. In the UK, British Airways swung to a profit in the first half as the airline improved yields and cut costs. It made a pre-tax profit of £158m in the six months ended 30 September compared a loss of £292m a year ago. Revenue jumped 8% to £4.45bn due to improved yields - up 17% - and operating costs fell 1.5% as lower non-fuel costs outweighed higher fuel spend. Passenger revenue grew 8%...