LONDON -- The FTSE 100
But going nowhere is better than falling, which is what a number of companies have done in the various FTSE indexes today.
Admiral Group fell 5.7% to 1,077 pence this morning after the insurer revealed a fall in third-quarter figures. Turnover for the three months to Sept. 30 declined by 2% to 570 million pounds, although turnover for the nine months is up 3% to 1.7 billion pounds.
Chief executive Henry Engelhardt told us that "The U.K. car insurance market is cyclical and we are in the softer part of the cycle with premium rates coming down," and that Admiral is still on track to meet full-year expectations.
Faroe Petroleum shares dropped 9% on the news that the company is to abandon operations at its P1161 license area to the west of Shetland.
Faroe, which operates in the North Sea, the Atlantic margin, and Norwegian waters, had drilled some exploratory wells in the area and found oil-bearing sands, but these have turned out not to be economically viable.
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Royal Bank of Scotland fell a modest 1.9% after reporting a pre-tax loss of 1.2 billion pounds in its third quarter, compared with a 2 billion pound profit in the same quarter last year.
RBS also joined Lloyds Banking Group
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