MARKET REPORT

CONCERN over Britain’s economic prospects weighed on the FTSE 100, which trailed behind European peers as Germany edged closer to forging a government and was bolstered by business confidence data.

The blue chip index ended the day lower by 0.1% or 7.6 points at 7,409.64 points, while the French Cac 40 and German Dax rose 0.2% and 0.39%, respectively.

Connor Campbell, a financial analyst at SpreadEx said: “Losses in the oil, housebuilding and pharmaceutical sectors appear to be hampering the FTSE, as well as the general feeling that the UK economy is looking pretty damn ropy at the moment.”

Housebuilders were at the bottom of the FTSE 100, with Persimmon down 95p to 2,556p, Barratt Developments down 20.5p at 600.5p and Taylor Wimpey ending the day down 4.7p at 192.2p.

Brent crude prices edged higher by around 0.2% to 63.51 US dollars per barrel amid reports that Opecand Russia may be willing to co-operate in order to extend an oil production cut.

In UK stocks, William Hill shares fell 1.7p to 282.1p after confirming that talks were underway over a possible tie-up between rival CrownBet and its Australian business.

The FTSE 250 group has held “very preliminary discussions” with CrownBet, which is 62% owned by Australian gaming and entertainment group Crown Resorts.

The biggest risers on the FTSE 100 were Paddy Power Betfair up 275p at 8,810p, TUI AG up 24p at 1,356p, 3i Group up 15.5p at 929.5p and Experian up 26p at 1,578p.