Wednesday losses close FTSE down near flat

The UK’s largest independent oil producer Cairn Energy lost 2.7% to £10.66, falling for the third day in a row, while fund manager Schroders dropped 2.6% to 781p. Drugs manufacturer GlaxoSmithKline also closed down, along with Compass Group, the catering firm, after both firms’ shares traded without the right to the latest dividend. As a result, GSK lost 1.9% to £12.49 by close of business – knocking almost six points off the FTSE 100 – while Compass fell 3.3% to 255.25p. At the other end of the scale, BHP Billiton, the world's biggest mining company, was one of the companies to ke...