Sky fails to keep index out of red

The FTSE 100 Index edged into the red yesterday as a recovery in global equities lost steam amid subdued trading.

London’s blue-chip market ended the day relatively flat – down just 0.08%, or 6.26 points at 7,380.68 points.

Sky shares topped the leader board, rising 37p to £9.40 after news that Comcast and Verizon had expressed interest in snapping up assets from 21st Century Fox – which owns a significant stake in the satellite broadcaster.

Hornby rose 1.06p to 30.56p after the model train maker confirmed plans to raise £12million through a fresh equity placing, marking the third time it has turned to investors for extra cash in three years.

First-half results from the company showed a 22% drop in revenue to £17million, from £21.9million a year ago, and a further widening of statutory losses to £5.7million, from £4.7million previously.