FTSE back peddles

The UK benchmark shed 56.10 points to 4789.40 points, led by Steelmaker Corus, down 3.50p or as much as 7% to 43.25p, after indications reveal steel-production growth will almost halve this year as producers in the European Union hold back on output to protect prices threatened by higher-than-average stockpiles. Kingfisher has also plummeted almost 7% or 17.75p to 254.25p, its biggest fall in more than two years, after announcing sales will be 'broadly flat' for the quarter ending at the end of the month. Electronic retailer Dixons meanwhile, shed 6p to 139p. On the other end of the s...