FTSE 100 lower despite US jobs bounce

THE FTSE 100 tipped into the red at the end of a turbulent session despite a rebound from strong US jobs figures.

UK oil, mining and banking stocks had a solid session, keeping the index afloat for most of the day before weaker sentiment elsewhere in Europe weighed on London traders.

London’s top flight closed 20.36 points, or 0.31%, lower at 6,630.52 on Friday. On the currency markets, the pound decreased by 0.53% versus the US dollar to 1.382 and was down 0.02% against the euro at 1.160.

Across the continent, the major markets had harder tumbles than the FTSE as traders remained cautious over the rate of economic recovery. The German Dax decreased by 1% and the French Cac moved 0.82% lower.

The London Stock Exchange Group plunged in value after it said it expects higher operating costs in the new financial year.

The group told investors that pre-tax profit rose to £685 million in 2020, up from £651 million a year earlier, on revenue of £2.1 billion, up 3% for the period. It saw shares slide by 1,364p to 8,124p at the close of trading.

Frasers Group shares dropped after the Sports Direct owner said the Chancellor’s new business rates holiday is “near worthless” for larger firms. Mike Ashley’s retail vehicle saw shares close 12.4p lower at 452.2p.

The price of oil soared to a 14-month high after Opec maintained its existing output levels despite chatter about a potential rise.

The price of Brent crude oil increased by 3.21% to 68.88 dollars per barrel.

Across

1 Flying footballer (6) 7 Authorised by the ref? (8)

8 She's said to be a moaner (4)

10 One case of vegetables (3,3) 11 It's a blow when the little devil has to work (6)

14 Latest from Pinewood? (3) 16 Horsy girl? (5) 17 Regarded as having vision (4)

19 A tree to make war on? (5)

21 Time when a football coach is out for an early start (5)

22 A young person of service (5) 23 Mugs to pass around? (4) 26 Jack's treatment for warts (5)

28 Quiet chap, this friend? (3)

29 Bad hat going round the wood with a girl (6)

30 Sums for kiddies, outwardly? (6) 31 Music means nothing to a Manx cat (4) 32 A clavier composition unpopular with the Roundheads (8) 33 But, in New York, it's one plus ten, maybe! (6)

Down

1 Does wearing it help make a woman look good? (6)

2 Felt uncertain (6) 3 Broadland highway? (4) 4 Seeing in the dark is often fun for one (4,3) 5 Such in infection can ruin a rival (5)

6 One aptly swimming around in the aquarium? (5) 8 New name for neck hair (4)

9 At present knowing no king (3)

12 One stuck quietly in? (3)

13 Many a snake may seize you! (5) 15 Protector in the field of sport (5)

18 He's got it! (5) 19 Looking angry and a bit scared (3)

20 We just finished getting soaked (3) 21 The place for neatly cut trunks (7) 22 Little chap slimmers may count as worth watching (3) 23 Planet with some makings of a start turn! (6)

24 A girl's not finished, unfortunately (4) 25 Artist's piece of land in the outskirts of Surrey (6)

26 A lot of cats turning up for the weekend (5) 27 Christopher as a historic official (5) 28 The sound of music (3) 30 Rent to sailors (4)