London’s blue chip share index remained in the red today on persistent fears over how President Barack Obama will tackle America’s looming fiscal cliff.
The FTSE 100 Index pared back earlier losses however, closing down 6.4 points at 5,769.7, as Wall Street’s Dow Jones Industrial Average pulled out of its two-day nosedive.
Miners dominated the FTSE 100 fallers board, with Evraz off 6p at 236.4p and Anglo American down 18p at £18.66.
Banks and financial stocks were likewise under pressure, with Barclays off 6.5p at 230.2p, Royal Bank of Scotland down 4.3p at 270.1p and insurer Aviva off 4.9p at 325.4p.
Car insurance specialist Admiral was the biggest riser, up 3% or 35p to £10.54 after a broker upgrade. An upgrade also buoyed chemicals specialist Croda International, which added 61p to £22.71.
In corporate news, International Airlines Group was higher after unveiling details of a turnaround plan for ailing Spanish carrier Iberia. Shares responded well to the restructuring announcement, lifting 2.6p to 170.6p or 2%.
Elsewhere, shares in Hornby recovered from earlier falls seen after the company swung to a half-year loss and pulled its half-year dividend. Shares initially fell 3%, but later clawed back to close 2.25p higher at 60.25p.
The biggest FTSE 100 risers included Tate & Lyle 17p higher at 747p and Smith & Nephew up 14p to 656.5p.
Among the biggest FTSE 100 fallers were Barclays down 6.5p to 230.2p, G4S 5.8p lower at 253.4p and National Grid down 11p to 689p.
Alan MacPhee, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that FirstGroup rose 1.29% to 189.3p, with Eland Oil and Gas adding 1.19% to 126.75p and Stagecoach up 0.15% to 276.15p.
The day’s fallers included Xcite down 6.63% to 95p, with Premier Oil dropping 1.59% to 340.65p and EnQuest down 1.34% to 117.65p.
Recommended for you
