London’s leading shares index lost more than 1% today as a series of protests against austerity measures across Europe rattled investor confidence.
The FTSE 100 Index closed 64.2 points lower at 5,722 as general strikes in Spain and Portugal and walkouts in Greece and Italy kept the eurozone debt crisis at the forefront of investors’ minds.
In a busy session for corporate news, the focus of investors was on the energy sector after results from SSE.
Centrica shares were 7.5p higher at 318.3p, while SSE edged 17p higher to £14 after it reported a 38% increase in half-year profits to £397million.
In other corporate news, solid results from supermarket Sainsbury’s failed to inspire further share gains.
The chain, which increased half-year underlying profits by 5% to £373million, slipped back 8.4p to 338.8p, having made decent headway in the year to date.
There were losses for other retailers, including Marks & Spencer down 6.8p to 378.4p, B&Q owner Kingfisher off 5.9p at 283p and Burberry 51p lower to £11.80.
Shares in Carphone Warehouse jumped 5% – up 8.5p to 184p – after it reported a better-than-expected 57% leap in half-year profits to £8.3million and said it was “quietly optimistic” for the festive season as smartphone deals breathe new life into the pay-as-you-go market.
WH Smith climbed 1% or 7p higher to 617p after insisting it was “well positioned” for continued profitable growth.
Among the biggest FTSE 100 risers were Amec ahead 23p at £10.56 and Bunzl up 13p at £10.43.
The biggest FTSE 100 fallers were Evraz down 16.4p at 217.4p, Randgold Resources off 355p at £65.75 and Eurasian Natural Resources down 13.4p at 276.2p.
Barry Shepherd, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that Faroe Petroleum closed up 3.6% to 143.125p.
Among the day’s fallers, BG Group gave up 2.7% to 1,014.5p and Cairn Energy fell 2.65% to 268p.