A bout of profit-taking sent the FTSE 100 Index back below the 6,500 barrier today, but upbeat economic data in the US helped ease losses.
London’s top tier closed 29.1 points lower at 6,481.5, narrowing earlier falls of more than 70 points as a stronger-than-expected 1.1% rise in US retail sales last month buoyed sentiment.
Among stocks, insurer Prudential bucked the downward trend after it announced results showing a 25% rise in full-year operating profits to £2.5billion, triggering a 9% rise in its share price, up 96p to £11.25.
There was no results-day boost for security guards firm G4S however, as the impact of its bungled Olympics contract drove it to a 32% decline in full-year profits to £175million, sending shares down 7.6p to 299.9p.
Royal Bank of Scotland shares were 6.2p lower at 300.1p after it completed the sale of more than £500million of shares in Direct Line Group, reducing its stake in line with European Union state-aid rules to below 50%.
Meanwhile, French Connection rose 2.5p to 27p as the fashion retailer offset big full-year losses of £10.5million by signalling a better start to the new financial year.
The biggest FTSE 100 risers included Sainsbury’s ahead 8.8p to 358p, Lloyds Banking Group 0.8p higher at 51.4p and ITV up 1.8p at 129.9p.
The biggest FTSE 100 fallers were Standard Chartered down 67.5p to £17.21, Evraz off 9.7p to 251p, British American Tobacco 122p lower at £34.91 and Kazakhmys down 18.5p to 533.5p.
Barry Shepherd, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted Xcite Energy was up 4.8% to 120.875p and Parkmead Group rose 4.6% to 14.25p.
Among the day’s fallers Aggreko closed down 2.5% to £18.39 and Hunting edged 1.9% lower to 922.75p.