World markets failed to make significant gains today as hopes of imminent stimulus measures from the US Federal Reserve began to fade.
The fourth monthly rise in US factory output figures in a row suggested the world’s biggest economy may not be slowing as drastically as feared and reduced the chances of another bout of quantitative easing in the near future.
The FTSE 100 Index fell 31.7 points to 5,833 despite a 4% rise for scandal-hit bank Standard Chartered after it agreed a lower-than-anticipated settlement with New York regulators over allegations it hid transactions with the Iranian government.
The bank was the index’s biggest riser after its £217million settlement with the New York State Department of Financial Services (DFS). Shares rose 4% or 56.5p to 1,426.5p.
Life insurer Resolution was high on the risers’ board, ahead 6.3p to 226.3p, after it unveiled a wide-ranging plan aimed at boosting its flagging share price, abandoning both its unconventional corporate structure and plans it had to split itself in two.
Heavily weighted miners were on the back foot however, with Rio Tinto sliding 5% or 152p to £30.38 and Eurasian Natural Resources off 35.1p at 379.6p.
Outside the top flight, FirstGroup lost an initial boost to shares and plunged 6% as analysts said it was likely to have overpaid for the West Coast mainline rail franchise. Shares were down 15.8p at 243.2p.
The biggest Footsie risers included Arm up 10p at 584p and Rexam ahead 6.5p at 441p.
Among the biggest Footsie fallers were Vedanta Resources down 40.5p at 919.5p and Evraz off 10.8p at 262.4p.
Alan MacPhee, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted EnQuest rose 2.79% to 118.2p, Stagecoach added 1.88% to 292.15p and Faroe Petroleum closed up 1.33% to 151.25p.
On the fallers board, Weir Group gave up 1.5% to close at £17.10.