Afternoon Markets: Dow Jones flat as optimism falls

The Dow Jones is flat in early trading as investor concern the index is outpacing the real rate of recovery grows.

America's blue chip index has climbed just 10 points (0.11%) 9,802.59 following strong rallies over the past two days.

Financials are faring well. American Express added 1.06% to $36.22, while Bank of America Corp gained 0.96% to $17.42.

Elsewhere, General Electric climbed 1.35% to $17.13 and Kraft Foods advanced 1.14% to $26.57.

However, communications firms AT&T Inc shed 0.72% to $26.35, while Verizon Communications fell 2.04% to $29.79.

In the UK, the FTSE is continuing to cement its position above 5,000 with a gain so far on Thursday of almost 39 points (0.75%) to 5,162.74.

Balfour Beatty added 8.72% to 374p helped by rumours of an impending "significant acquisition".

British Airways gained 5.32% to 239.5p after Goldman Sachs added the company to its "conviction buy" list, while Tullow Oil climbed 3.45% to £12.28 after announcing the discovery of an oil field in Uganda.

Eurasian Natural Resources and Lonmin tumbled 2.73% to 891.5p and 2.51% to £17.85 respectively.