London midday: Stocks erase losses as markets continue erratic moves

UK stocks erased losses by Thursday lunchtime on a quiet session for economic data, though concerns about Greece were limiting upside.Reports that Greek finance minister Yanis Varoufakis has called for the European Central Bank to delay Athens' debt repayments shook sentiment among investors.The FTSE 100 was trading just 0.05% lower at 6,946.44 by midday, having bounced off an earlier low of 6,884.63 as market continued their recent erratic behaviour following a volatile week."The movements in the bond market, now in the green this Thursday after haemorrhaging points in the last few days, seem to have cast a cloud over the Eurozone after falling German Bunds were pointed to as the catalyst for this week's declines seen across the bond board," said Spreadex analyst Connor Campbell.US jobless claims will be the only major economic data release of the day. Initial claims for unemployment benefits are forecast to have risen to 273,000 last week from 265,000 previously. Continuing claims are expected to rise to 2.233m from a 15-year low of 2.228m.Earnings mixed, ex-div stocks fallInvestment group 3i impressed with its annual results with a strong total return of 20% for the year.Property giant British Land gained after meeting forecasts with a small increase in profits in the year ended 31 March. Diluted underlying earnings per share increased 4.1% to 30.6p, more or less in line with consensus estimates.ITV declined as, despite net advertising revenue for the first quarter being ahead of guidance, sentiment was dampened by reports of a lower second quarter. Furthermore, staff are holding a 24-hour strike over pay with a protest at the broadcaster's annual shareholder meeting.Alton Towers and Madame Tussauds owner Merlin Entertainments edged higher after a "satisfactory" start to 2015, boosted by favourable weather in Europe and helpful currency movements.Pharmaceutical outfit Hikma advanced as it reiterated its guidance for full-year revenue growth of "around 6% in constant currency".A number of blue-chip stocks were trading lower after going ex-dividend, including Aberdeen, Shell, Glaxosmithkline, Kingfisher and J Sainsbury.Market MoverstechMARK 3,231.13 -0.16%FTSE 100 6,946.44 -0.05%FTSE 250 17,891.11 +0.17%FTSE 100 - Risers3i Group (III) 525.50p +2.64%Mondi (MNDI) 1,441.00p +1.91%Hikma Pharmaceuticals (HIK) 2,068.00p +1.87%Centrica (CNA) 281.50p +1.77%easyJet (EZJ) 1,678.00p +1.51%Intertek Group (ITRK) 2,699.00p +1.24%Dixons Carphone (DC.) 465.70p +1.22%International Consolidated Airlines Group SA (CDI) (IAG) 562.50p +1.17%St James's Place (STJ) 935.50p +1.14%Experian (EXPN) 1,231.00p +1.07%FTSE 100 - FallersAberdeen Asset Management (ADN) 433.80p -2.21%Sainsbury (J) (SBRY) 269.40p -2.21%TUI AG Reg Shs (DI) (TUI) 1,181.00p -2.15%Anglo American (AAL) 1,108.00p -2.08%GlaxoSmithKline (GSK) 1,420.50p -2.07%Kingfisher (KGF) 354.00p -1.94%ITV (ITV) 255.40p -1.77%Taylor Wimpey (TW.) 179.60p -1.48%BHP Billiton (BLT) 1,550.00p -1.24%Royal Dutch Shell 'B' (RDSB) 2,056.50p -1.20%FTSE 250 - RisersTalkTalk Telecom Group (TALK) 381.20p +4.96%Crest Nicholson Holdings (CRST) 498.40p +3.85%Countrywide (CWD) 599.50p +3.45%Zoopla Property Group (WI) (ZPLA) 222.90p +3.19%Genus (GNS) 1,461.00p +2.81%Workspace Group (WKP) 870.00p +2.17%Ladbrokes (LAD) 117.60p +2.17%Card Factory (CARD) 342.60p +1.99%Dairy Crest Group (DCG) 496.90p +1.99%Ocado Group (OCDO) 394.90p +1.96%FTSE 250 - FallersRestaurant Group (RTN) 688.00p -4.38%Keller Group (KLR) 993.50p -3.45%Carillion (CLLN) 327.70p -3.30%Fidessa Group (FDSA) 2,298.00p -3.24%Telecity Group (TCY) 1,083.00p -2.87%SIG (SHI) 205.80p -2.56%Pace (PIC) 408.40p -2.18%Inmarsat (ISAT) 992.00p -2.17%Grafton Group Units (GFTU) 788.00p -2.11%Vesuvius (VSVS) 448.90p -1.51%