FTSE 100 drops morn­ing gains to fin­ish down

The Courier & Advertiser (Dundee Edition) - - BUSINESS -

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.

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