FTSE falls as Brexit keeps markets tense

Markets stabilised in the absence of dramatic new Brexit developments, but analysts said the mood remained “tense”.

Top-flight London stocks slid into the red, amid losses on global markets, with the FTSE 100 falling 12.99 points to close at 7,000.89.

David Madden, market analyst at CMC Markets UK, said: “Markets have given up some ground as we approach the close of the session. Uncertainty in relation to Brexit, and the Italian budget deficit are weighing on sentiment.

“There hasn’t been any major developments in relation to Brexit, but the situation is still tense.”

Disappointing house prices data weighed down london’s blue chip index. Barratt Developments fell 11.1p to 491.9p, while Persimmon was down 22p at 2,106p.

Meanwhile the pound, which last week experienced its worst one-day fall since June 2016, was up 0.1 per cent against the dollar at $1.285, but down 0.14 per cent versus the euro to €1.123.

In corporate news, mining giant BHP Billiton ended a long-running dispute with the Australian taxman over the sale of raw materials through an offshore entity. Shares rose 1 per cent to 1,623.2.

Shares in CYBG dropped by 6.2p to 248.4p following news that hundreds of small businesses are to press ahead with a £350 million legal action over claims they were mis-sold loans.

The group also announced the departure of its chief operating officer Debbie Crosbie, who is to take up the role of chief executive at TSB, as the crisis-hit bank looks to move on from an IT meltdown which caused chaos for thousands of customers.