Blue-chip shares fell back today after yesterday’s strong rally as positive job data from America added to fears that the US Federal Reserve may soon start to taper off its support for the world’s biggest economy.
The FTSE 100 Index began the session strongly but closed down 46.2 points at 6,375.5, after the US employment figures produced mixed sentiment.
Whitbread, owner of the Costa coffee chain and Premier Inn hotels, fell 89p, or nearly 3% to £31.06 after a broker downgrade. UBS said it was cautious over the company’s plans for a new hotel brand and international expansion.
Glencore Xstrata led a host of miners falling back as a result of the dollar’s strength hitting metal prices. It was off 17.9p, or more than 6% to 256.8p.
Antofagasta was down 50.5p to 784.5p, Fresnillo was off 55p at 886.5p and Randgold Resources shed £2.51 to £40.50.
The risers’ board was led by Wickes owner Travis Perkins as the company continued to benefit from signs of improved consumer confidence and the recovery in the housing market. Shares in the top-flight stock were up 31p, or 2% at £15.56.
Other Footsie gainers included Land Securities up 12.5p to £9.39, RSA Insurance 1.5p better off at £1.23 and British Land up 7p to 591.5p.
Elaine McLachlan, of investment manager and financial planning specialist Brewin Dolphin in Inverness, noted Optos up 5.1% to 114.8p, Plexus Holdings gaining 4.9% to 182.5p and A.G. Barr rising 4% to 523.8p. Johnston Press was off 3% at 15.5p, Royal Bank of Scotland fell 2.6% to 276.7p and FirstGroup was 2.3% lower at 96.6p.
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