The FTSE 100 has ended the session down 9.1 points, or 0.14%, to 6,559.5, as property companies continued to slump.
Although retailer Next was the biggest loser with a fall of 6.41% to £22.47, after it announced trade had been “extremely volatile” and suggested first half sales could see a 1-4% fall, while DSG International slipped 2.22% to 171.8p.
Property companies slumped led by Land Securities which fell 4.11% to £19.35, closely followed by Hammerson which slipped 2.56% to £15.98, while Slough Estates dropped 2.41% to 750p.
However, losses were limited by Intercontinental Hotels which climbed 8.37% to £13.72, as news the Barclay Brothers had increased its stake in the firm to 9.16% have led to increased bid speculation.
Compass Group also gained 3.68% to 373.5p, closely followed by Imperial Tobacco Group which added 3.16% to £22.55, while Rio Tinto climbed 2.59% to £35.70, and International Power advanced 1.95% to 458.5p.
In the US, the Dow Jones Industrial Average is slightly down in early trading with a fall of 2.28 points, or 0.02%, to 13,381.56, despite better than expected housing and industrial figures.
General Motors is the biggest loser with a fall of 1.88% to $31.37, closely followed by Caterpillar which is down 0.91% to $75.32, while 3M Company has declined 0.82% to $84.99.
Alcoa has fallen 0.71% to $39.01, while American International Group has slipped 0.64% to $71.61, although losses are being limited by Procter & Gamble which is up 1% to $62.69.
However, Johnson & Johnson is posting the biggest gains with a rise of 1.16% to $62.54, closely followed by JP Morgan Chase which is up 0.98% to $52.54, while Altria Group has added 0.61% to $69.83, and Boeing has climbed 0.58% to $94.89.
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 Nyree Stewart on 020 7034 2681 or email [email protected]IFAonline
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