FTSE 100 drops morning gains to finish down
The FTSE 100 failed to hold on to its early gains yesterday, sliding back into the red.
The index was down 11.02 points, or 0.16%, at 6,995.91.
Top-flight stocks had moved back into positive territory earlier in the day as global stock markets tentatively recovered from a widespread sell-off.
A day earlier, the FTSE 100 suffered its largest one-day drop since June, falling 1.9%.
Neil Wilson of Markets.com had warned yesterday that sentiment was “fragile” and markets could see a “dead cat bounce”.
In currency markets, the pound was 0.5% lower against the US dollar at 1.316 and down 0.28% versus the euro to 1.380.
Hopes that the UK and EU could announce a Brexit deal had lifted sterling, but concerns began to re-emerge by yesterday. The pound also suffered from a rise in the dollar.
Brent crude prices were also lower, down 0.3% at 80.06 US dollars (£60.84) per barrel.
The biggest fallers on the FTSE 100 were Imperial Brands, down 161.5p to 2,516.5p, British American Tobacco, down 133p to 3,272p, United Utilities Group, down 17p to 687.4p, and Hargreaves Lansdown, down 44p to 1,806.5p.