Footsie hovers near 4,000 mark

Worries about the US economy and jobless figures are still swaying investors as the FTSE 100 Index hovers around its opening level.

After a brief climb in the first minutes of trading, it is down 6.4 points at 4004.6 after an hour.

A nervy end to the week is on the cards after the recent jitters which have seen the index plunge 5% so far this week.

Tom Hougaard at City Index says: "We are hoping that the FTSE can stay above 4000. It all really depends on which direction the US stocks take later today."

British Energy's warning that it needs immediate financial support seems to be unsettling energy stocks.

Lattice is down 1¾p at 167¼p, while Centrica is off 2p at 178p, and International Power is down 4p at 103p.

International Power warned two days ago that low electricity prices in the UK and US may hit earnings next year.

Telecoms are also lower in the City, with Vodafone down 1p at 94p, mmO2 off ¼p at 44¾p and Cable & Wireless drifting ¾p to 149¾p.

Corporate news has been restricted to second-tier stocks, with leisure group Rank moving up 4¾p to 268p despite lower sales in Hard Rock Cafes.

A strong performance by its bingo halls and casinos helped Rank lift first-half pre-tax profits by 3%.