Reuters: Hot Stocks: Britain's FTSE down as EU meets to discuss bailouts

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Britain's FTSE down as EU meets to discuss bailouts Apr 12th 2013, 07:08 LONDON, April 12 | Fri Apr 12, 2013 3:08am EDT LONDON, April 12 (Reuters) - Britain's top share index succumbed to a bout of profit taking early on Friday, after climbing higher over the past four days, with some concerns building over extra funding needed to bailout euro zone strugglers such as Cyprus. By 0803 GMT, London's blue chip index was down 20.31 points, or 0.3 percent at 6,395.83, having added 2.7 percent since Monday. The bailout package for Cyprus will top the agenda of an informal two-day gathering of EU finance ministers in Dublin, after some documents showed the total bailout package will now cost 23 billion euros. "There may be some caution regarding if euro zone policymakers will allow extra funds needed," Jawaid Afsar, sales trader at SecurEquity said. "Overall I expect profit taking but even with FTSE 100 near its recent highs I cannot see much downside and another attempt at the highs may be seen in the days ahead," he said. (Reporting by David Brett; Editing by Alistair Smout)

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