FTSE fails to build on property gains

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The FTSE 100 is down 35.8 points, or 0.56%, to 6,413.4, despite a rally by property companies on the back of the sale of HSBC's building in Canary Wharf.

Liberty International is posting the biggest gains with a rise of 2.73% to £12.42, closely followed by Slough Estates which is up 1.94% to 788p, while Hammerson has advanced 0.98% to £15.40. Scottish & Newcastle has climbed 1.3% to 625p, while SABMiller has added 1.34% to £12.06, although gains are being offset by Northern Rock which has slipped 1.58% to £10.60. Punch Taverns is the biggest loser with a fall of 2.76% to £12.68, closely followed by Hanson which is down 2.62% to 836.5p, while Schroders NV NON-VTG SHS ú1 has slipped 1.79% to £11.52, and Schroders has fallen 1.47% to £12.76...

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