Uncertainty around US economic stimulus ahead of a key Federal Reserve meeting weighed on global markets today to drag the FTSE 100 Index lower.
The London market closed down 25.4 points at 6,348.8, ending two days of gains, while markets across Europe also lost steam amid doubts about how long the US will continue pumping money into its economy.
Fallers in London included most of the major players from the insurance sector, with Asia-facing Prudential down 19p at £10.68, Standard Life 5.8p cheaper at 369.4p and Legal & General down 1.5p at 171.1p.
BT shares were under pressure as it announced that widely-respected chief executive Ian Livingston would stand down in September. Shares were down as much as 4% following the surprise announcement, but regained some of their losses to close down 5.6p at 313.7p.
Meanwhile water companies Severn Trent and United Utilities were off 69p at £16.96 and 34.5p at £6.92 respectively as a result of trading without the right to their latest dividend payments.
On the risers board, supermarket stocks fared well with Tesco ahead 8.7p to 344.6p, Sainsbury’s up 3.8p to 376.5p and Morrisons 2.7p stronger to 267.4p.
The biggest risers on the FTSE 100 included Diageo 39.5p ahead to 1,925.5p, Sage up 6.8p to £3.40 and BAE Systems 7.6p ahead to 403.3p.
Among the biggest fallers on the FTSE 100 were Aggreko down 92p to £16.60 Polymetal International 23.5p lower to 614.5p.
Carrie Keenan, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that risers included Eland Oil & Gas, which was 1.38% firmer at 128.375p, while Amec rose 1.1% to £10.12.
Fallers included FirstGroup, giving up 1.86% at 97.225p, and STV Group faded 1.45% to 135.5p.
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