Pharmaceutical and house building firms had a bad day of trading on the FTSE indices today, but the main index surprisingly pulled back some of the losses by close of business thanks to gains for Abbey and Centrica.
It was somewhat of a mixed day's trading as prices leapt up and down across the main indices.
Both AstraZeneca and GlaxoSmithKline lost over 1.5% at the end of Friday trading, as a US consumer watchdog suggested AstraZeneca’s cholesterol drug was too dangerous to sell, and GSK received a ratings downgrade from Citigroup.
The FTSE 100 eventually closed down just 0.2% to 4494.1 having earlier in the day lost another 10 points towards 4485 while the FTSE 250 index made a gain of 31.7 points or 0.5% to 6225.6 and the FTSE All-Share ended the day flat at 2238.
Interest in the house builders group Berkeley saw its biggest gain in 13 years after announcing it would return cash to shareholders, and sparked the belief other construction firms would do the same the continuing boom in property prices.
Berkeley eventually closed the day up 267p or 29% to £11.97 while rival house builder Wimpey also rose 12p or 3.4% to 363p.
Centrica also made gains of 2.83% to 227.25p as energy firms saw improved prices once the oil strike in Norway was called off.
In the US, the Dow Jones index is still pretty flat at 10.453.7, having only gained 9 points while the Nasdaq Composite index is so far up almost 12 points or 0.5% to 2027.IFAonline
F&C IT's 150th anniversary
First meeting for Powell
Red tape and tech driving consolidation
2019 Survey opens in June