FTSE rises but lags behind European

Market report Emma Newlands

The FTSE 100 lagged behind its continental peers after a dovish statement by the European Central Bank weighed on the euro and bolstered eurozone stocks.

The blue-chip index closed higher by 45.4 points at 7,203.24, while the French Cac 40 and German Dax ended the day up 1.3 per cent and 0.9 per cent respectively.

David Madden, a market analyst at CMC Markets UK, said: “Mario Draghi, the head of the ECB, stated that underlying infla- tion is subdued and that ‘victory’ can’t be declared yet. The implication is the region still has some way to go in order to stimulate demand.”

The pound was mixed, falling 0.5 per cent against the US dollar to trade at $1.382 but rising 0.1 per cent versus the euro to €1.121.

In UK stocks, G4S was near the bottom of the FTSE 100, down 5.7p at 258.3p, as news of rising profits was overshadowed by sluggish trading in its emerging markets division. Aviva shares rose 1p to 508.6p after the insurance giant posted a 2 per cent rise in operating profit in 2017, driven by a strong performance in the UK. The biggest risers on the FTSE 100 included NMC Health, up 88p at 3,362p, Diageo, up 60.5p at 2,441p, and Unilever, up 91.5p at 3,880p. The biggest fallers included Persimmon,down95pat2,548p, Marks & Spencer Group, down 9.4p at 278.6p, and Anglo American, down 51.8p at 1,707.2p. Investors tucked into the business on news of a 29.3 per cent rise in revenues to £474.6 million, as cash-strapped UK diners chose to order in food. The estate agency saw its shares slump to a new all-time low after swinging to an annual loss and warning over further pain to come in 2018.