Insurers drag FTSE lower

London's leading shares have slipped into negative territory, as insurers dragged the FTSE 100 Index lower.

Blue chip shares had made a positive start to the day, but the Footsie dipped 4.4 points to stand at 4244.4 by mid-morning.

Trading is expected to remain light as investors wait for major US economic data.

It was a bad day for the insurance sector, with Prudential off 12.75p at 459p, Friends Provident down 2.25p at 138.75p and Norwich Union owner Aviva slipping 4.25p to 517.75p.

A raft of stocks going ex-dividend was also a factor, although DIY retailer Kingfisher enjoyed a more positive session - topping the Footsie risers board with a 6.75p gain to 273.5p after announcing regulatory approval for its Canadian home improvement business Reno-Depot.

Much of the attention was focused outside the top flight, with a clutch of FTSE 250 companies updating the City on earnings.

Most prominent among the risers was cement group RMC, which climbed 48p to 610p. Investors shrugged off the firm's 37% fall in first half pre-tax profits to welcome further details of its turnaround strategy.

Elsewhere, bus and rail operator Go-Ahead saw its shares fuelled by news that a massive expansion of bus services in London boosted annual profits by 32.6%. Shares rose 32.5p to 915p.

Budget airline easyJet was also riding high, climbing 6p to 260p, after reporting strong passenger figures for August.

But on the downside, pubs operator JD Wetherspoon fell 19.5p to 235p after unveiling slowing sales figures.