FTSE 100

Poor trading in the US has helped push the FTSE 100 index below the 4,800 level.

Ripping results published by Tesco for the Christmas trading period failed to help the UK benchmark FTSE 100 index, which has shed about 18 points to 4,828 this morning.

The UK's benchmark FTSE 100 index closed the week 20.5 points higher to 4820.8 points, on the news prices for commodities will increase throughout the year in the mining industry.

The UK's FTSE 100 index has closed lower for a third consecutive day.

Expectations of poor retailing figures covering the Christmas period look set to push the FTSE lower today, with the index down a fraction at about 4,840 so far.

Losses put the FTSE 100 index at 4,806 after shedding 41 points in a morning dominated by poor news from the retail sector and fears of US rates increases.

In the UK, the FTSE 100 Index is up about 8 points to 4,822 this morning led by Shire Pharmaceuticals, up 4%, or 22.5p to 569.5p.

In the UK the FTSE has lost 3.4 points to 4731.8 points paced largely by Cairn Energy plummeting, after announcing that it will argue a royalty placed by the Indian government on oil the company is pumping in Rajasthan.

The FTSE 100 index ended the day down 14 points by close of business, but this still left the market comfortably above the buffer zone at 4722.8 points.

The UK's FTSE 100 index has slipped a fraction after yesteday's rally, paced this morning by Vodafone.