Concerns about the health of the world’s biggest economy weighed on global stock markets today, holding back a subdued FTSE 100 Index.
After making tentative headway in early trade, the UK’s top tier ended narrowly lower, knocked back by a glut of gloomy data from the US which showed unhealthy consumer sentiment and a weaker-than-expected manufacturing sector.
That drove the FTSE 100 down 0.5 points to 6,243.7, marking the fifth day of retreat for the top tier.
Pharmaceuticals group GlaxoSmithKline was among the biggest top flight risers, up 3.2% or 51p to £16.58, after US regulators gave their backing to its experimental lung disease treatment Breo.
Engineering group GKN, which makes driveshafts for almost half of all new cars, was close behind after chief executive Nigel Stein said he expected an improvement in results now that restructuring charges are out the way. Shares responded with a rise of 6.3p to 252p.
Meanwhile, shares in housebuilder Persimmon were 3p higher at £11.09 after it reported a pick up in visitor levels to its developments.
That buoyed peers including Taylor Wimpey, 1.1p ahead to 89.7p, Barratt Developments, 8p up to 291.1p and Berkeley Group, 38p higher to £20.33.
The biggest risers on the FTSE 100 included Tullow Oil, up 41.5p to £10.24 and Shire up 41p to £19.64.
The biggest fallers on the FTSE 100 were Eurasian Natural Resources, 10.4p lower to 229.8p, Royal Bank of Scotland, 9.3p off at 273.9p, Resolution 7p lower at 247.1p and Easyjet, 30p weaker at £11.10.
Steven McKay, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that Parkmead added 3% to 13.5p and A.G. Barr rose 2.43%.
On the fallers board, Wood Group lost 1.31% to 792.5p, and Bridge Energy closed 1.16% lower at 127.5p.