FTSE ends session just marginally lower after late rally
END-OF-DAY REPORT: Headline shares ended the day just marginally lower, with worse-than-expected UK August mortgage data setting a dismal tone but the market responding positively to a bright morning on Wall Street.
At the close of business, the FTSE100 was down just 4.83 points at 5,547.08 with the FTSE250 off 22.31 points at 10,426.02 and the FTSE Smallcaps 14.07 points higher at 2,945.55.
An early rally in London soon ran into sand, with disappointing mortgage data adding to the general feeling of unease in the financial world.
Among the miners, gold continuing to head towards $1,300 an ounce kept Randgold Resources on the positive side, up 70p at 6,560p.
An in-line trading update from United Utilities, along with news it is to dispose of much of its non-regulated business for £600m, brought the sector to the fore but could not save United from getting caught up in the downturn, losing 0.5p at 573p.
Severn Trent dipped 2p at 1,344p and Centrica eased 2.2p at 332.9p.
Further on the downside with blue chips, a nervous start for the banking industry in the face of regulation concerns saw Lloyds sink 0.76p at 75.09p and Barclays drift 0.45p lower at 306.25p, although Royal Bank of Scotland rallied 0.46p at 47.96p by the close.
Supermarket operators faced selling pressure, with Sainsbury down 0.8p at 389.7p, Morrisons off 1.3p at 299.7p and Tesco 2.2p lower at 433.7p.
However, DIY retailer Kingfisher was the biggest blue chip casualty of the session, off 4.4p at 224.9p.
The upside for blue chips saw oil service industry groups in favour, with Petrofac topping the leaderboard, up 28p at 1,397p and AMEC 17.5p better at 973.5p.
Other notable gainers included global caterer Compass Group, up 5.5p at 540.5p, accountancy software specialist Sage, ahead 4.2p at 256.7p, and credit checker Experian, 5p stronger at 674p, while Imperial Tobacco continued to enjoy yesterday’s results, adding further 18p at 1,943p.
