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Mixed corporate updates see UK FTSE open flat

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(Globalpost/GlobalPost)

LONDON, Feb 5 (Reuters) - The UK's top share index open little changed on Tuesday, recovering its poise after steep losses in the previous session, with investor focus switching to mixed corporate updates.

By 0802 GMT, the FTSE 100 was up flat at 6,246.82 having suffered its biggest one-day fall in three months on Monday, as growing political uncertainty in continental Europe and a string of analyst downgrades sparked a wave of profit taking from 4-1/2-year highs.

On Tuesday, mixed corporate results saw oil and gas firm BG fall 3 pct after it said it would miss 2015 production targets, while UK-lender Barclays shed 0.8 percent after saying it will increase its provisions for mis-selling financial products.

On the upside, however, chip designer ARM rose 4 percent after fourth-quarter profit beat expectations. (Written by David Brett; Editing by Francesco Canepa)

http://www.globalpost.com/dispatch/news/thomson-reuters/130205/mixed-corporate-updates-see-uk-ftse-open-flat