FTSE trips up ahead of '07

Losses are spread across a number of sectors, including mining, support services, energy, transport and tobacco.

Xstrata leads the losers, falling 32p to £25.23

Compass Group, which provides catering and other services, is down 3.5p to 290p.

National Grid is off by 8.5p to 737p.

Shell continues to hurt from its involvement in what was supposed to be the biggest ever foreign investment in Russia’s oil and gas market. Together with two Japanese trading houses, the Anglo-Dutch oil major has had to hand over control of a far eastern project to Russia’s government, while also paying penalties for slow construction. Shell A shares are down 8p to £17.84.

Investors have instead sought out competitor Cairn Energy, which is up 15p to £17.93.

Property continues to draw ahead of the introduction of real estate investment trusts.

Land Securities is up 13p to £23.30, while British Land is up 9p to £17.31.

Overnight the Dow Jones Industrial Average index shed some of its gloss by the close. It closed down 9.05 points at 12,501.52.

Citigroup shed most, down $0.53 to $55.88.

Johnson & Johnson, the medial devices maker, gained $0.41 to $66.42.

Tokyo’s Nikkei 225 index closed up 1.02 points at 17,225.83.

Toyota was one of the big gainers, adding 280 yen to 8,200.

Matsushita, better known under brand names such as Panasonic and Technics, added 45 yen to 2,376.

If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Jonathan Boyd on 020 7484 9769 or email [email protected].

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