Flat session sees Footsie edge lower

The Footsie failed to make headway on a day when there was little in the way of economic indicators for traders to focus on.

The index closed down 6.26 points at 7,380.68 and Connor Campbell, an analyst with Spreadex, said: “Despite a relatively flaccid performance by the pound, and the reversal of early losses in the commodity sector, the UK index just couldn’t get anything going.”

Shares in Carillion fell 20p to close at 21.5p after the troubled construction group warned over profits and said it will breach its financial covenants.

The group said annual profits looked set to be “materially lower than current market expectations” as it grapples with a string of delays and smaller-than-expected improvements to margins on certain contracts.

Toymaker Hornby has confirmed plans to raise £12 million through a fresh equity placing meant to help shore up its balance sheet and fund the purchase of its new boss’s business.

It is the third time in three years that the Scalextric-to-airfix business has turned to investors for extra cash. Shares closed up 0.5p at 30p.

Shares in Sky closed up 37p at 940p after Comcast and Verizon Communication expressed an interest in buying the assets of 21st Century Fox.

Standard Life Aberdeen shares rose by 6.1p to 422.5p after its India-based joint venture HDFC Life successfully floated on the stock market there.

The insurance group and asset manager has retained a 29.4 per cent stake in HDFC Life, worth around £2 billion.