Having suffered a dismal day of trading yesterday along with other indices across Europe, the FTSE 100 index failed to make any ground by close of business this afternoon and moved a fraction closer to the 4300 mark.
A late run in trading forced the FTSE 100 to close down 15.3 points or 0.35% to 4,318.5 – even lower than yesterday’s huge European falls – having earlier in the day made a gain of at least 0.6%.
SABMiller, the brewer, contributed a substantial chunk of those losses and closed the day down 13.5p or 2.2% to 602p after announcing the integration of Peroni - an Italian lager firm it bought in May - and the expense of introducing Miller Genuine Draft has hit its profitability in Europe.
Some of the banking groups had managed to sustain a drop in their share prices after US rival Goldman Sachs Group reported it had beaten investors’ expectations.
Banking group share prices were only hit in the last few minutes of late trading.Mortgage groups HBOS – the group behind Halifax – closed up 10.5p or 1.47% to 726p while Alliance & Leicester rose 13.5p or 1.59% to 864.5p and Bradford & Bingley added 4p or 1.31% to 308.5p.
BOC Group, the natural gas company, also gained 22p or 2.56% to 882p while British Airways saw an improvement in its share price, rising 8.75p by close of business or 3.37% to 268.5p and ITV saw its share value lift 2.75p or 2.25% to 125p.
BG Group eventually ended the day down 6.75p or 2.1% to 314.75p alongside tobacco giant Gallaher whose share price lost 13p or 1.98% to 642.5p.
In the US, the markets struggled to make any real gains too by close of business in London.
The Dow Jones index was flat at 10,065, while the S&P 500 index had fallen 0.15% to 1,093 and the Nasdaq was down 0.35% to 1,903.IFAonline
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