Royal Bank of Scotland shares were boosted by reports the UK Government could sell some of its stake today, but fresh global economic fears meant the FTSE 100 Index lost ground.
London’s top index surrendered earlier gains to close down 33.2 points at 5,869.6, as confidence was hit by weaker economic data from the US and the eurozone.
Taxpayer-backed RBS was the top flight’s biggest riser after reports the government had been negotiating with Abu Dhabi sovereign wealth funds, although the government denied a sale was imminent. Shares rose 3%, or 0.9p to 28.7p.
The heavily-weighted mining sector was boosted by strong results from copper giant Kazakhmys, which unveiled higher pre-tax profits of £1billion in the year to December. Kazakhmys shares rose 2% or 19.5p to 944.5p, while Xstrata lifted 10.5p to £11.06.
Friends Life owner Resolution was among the biggest fallers after the acquisition vehicle said it may divest huge chunks of its insurance assets through two separate listings in 2014. Shares dropped 2% or 6.7p to 268.2p.
Shares in the UK’s biggest supermarket Tesco were down 0.7p to 338.4p after figures suggested its market share continued to decline in the 12 weeks to March 18 to 30.2% from 30.6% in the previous year.
Outside the top flight, Imperial Leather and Carex owner PZ Cussons sank 10% after its second profit warning this year. The company’s shares fell 32.8p to 301.3p.
The biggest Footsie risers included Schroders ahead 27p at £12.81 and Whitbread ahead 31p at £18.10.
Among the Footsie fallers were Wolseley, down 84p at £24.35, BG Group off 44p at £14.75, Randgold Resources down 155p at £56.25 and International Consolidated Airlines Group off 4.7p at 178.2p.
Elaine McLachlan, of investment manager and financial planning specialist Brewin Dolphin in Inverness, noted that risers included oil and gas firm Faroe Petroleum, up 5.8% to 162.88p, and energy services company Plexus, which gained 2.2% to 113.5p.
Fallers included glass-fibre insulation company Superglass, off 4.7% at 20.5p, and Wood Group down 2.7% to 717.75p.