Slow US start to trading hits euro

Stocks were under pressure yesterday after a mixed update from the European Central Bank (ECB) and a slow start to trading in the US.

The FTSE 100 last night closed down 0.17%, shedding 12.41 points to 7,489.05.

Meanwhile the German Dax dropped 1.28% and France’s Cac index was 0.5% lower.

London’s top shares were also affected by American markets later in the day.

Shares in financial services firm AJ Bell rose by 6.8p to £4.35 after it grew assets under its administration by 6% to £50.7 billion during the past three months.

Drug giant AstraZeneca saw its share price jump by £4.91 to £68.50 after a fourth consecutive quarter of rising sales,

The euro had dropped ahead of ECB meeting but fired back

while software company Sage Group fell 84.6p to 732p after it reported a decline in revenue.

Metro Bank shares were also down after the lender said it would seek a new chairman and unveiled a drop in first-half profits. It closed 91.4p lower at £3.85 yesterday.

Pub giant Fuller, Smith & Turner hailed a solid start to the new financial year, despite the impact of selling its brewing business earlier this year. Shares gained 10p at £10.75.

Catering giant Compass Group has upped its growth expectations for the year again following a strong performance in its US division. Shares were up 53.5p to £20.18.

The pound lost some of the ground it gained the previous day, dropping 0.22% on the US dollar to 1.246 and 0.29% on the euro to 1.117.

The euro had dropped ahead of the ECB meeting, but quickly bounced back.