The FTSE was lower in early trading today

Thursday, 14 April 2011 12:33

The FTSE was lower in early trading today mainly off the back of Chinese inflation worries and also as Reckitt Benckiser was lower on the news it was losing it's CEO. Reckitt Benckiser fell 7.7 % after the firm said CEO Bart Becht is to retire this just six months after the departure of its chief financial officer.

The FTSE 100 is off 34.74 at the time of writing 30.46 points, or 0.59 %, having closed 0.8 percent higher at 6,010.44 in the previous session. Miners fell along with base metal prices as investors shied away from riskier assets. Analysts cited concerns over Chinese inflation.

Asian markets were off overnight off the back on ongoing concerns of inflation and Singapore rate increases and also the Chinese inflation and GDP figures on Friday. Chinese inflation in March accelerated to 5.4 % from a year earlier which will add weight to the government's trying to rein in price rises.

In the resources sector Glencore released details of plans to raise up to $12.1 billion (7.4 billion pounds) in a London and Hong Kong IPO.