London’s blue chip index slipped into the red today, having finished at its highest level in five years in the previous session.
The fall of 4.3 points to 6,427.6 came despite a big jump in Vodafone’s share price amid talk of a record merger deal in the US.
The Newbury-based mobile phone giant, which holds 45% of America’s largest network, has reportedly held talks with majority owner Verizon Communications over a full merger of the two companies. Vodafone shares leapt 7% or 11.4p higher to 180p.
Car insurer Admiral joined Vodafone on London’s top flight risers board after it reported a better-than-expected 15% rise in full-year profits to £345million and increased its dividend for the year by 20%. Shares were 67p higher at £13.34.
There was also a positive reception for Legal & General, which climbed 3.3p to 166p after increasing its dividend by 20% in the wake of full-year results, with annual premium equivalent sales up 15% to £2.1billion in 2012.
Royal Bank of Scotland shares were down 3.7p to 309.1p however after Bank of England governor Sir Mervyn King called for the lender to be broken up into “good” and “bad” banks, instead of waiting two years to return it to the private sector.
The biggest FTSE 100 risers included Wood Group 35.5p higher at 853.5p and BSkyB up 25p to 888.5p.
Among the biggest FTSE 100 fallers were CRH down 64p to £14.50, Standard Chartered off 60.5p to £17.77, Evraz 8.6p lower at 253.5p and Kazakhmys down 17.5p to 555p.
Carrie Keenan, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that Hunting added a further 2.93% to 932.75p. Elsewhere, Stagecoach edged up 2.15% at 298.7p.
Among the fallers, Optos slumped 2.75% to 189.875p.