London’s top flight moved 0.06, or 4.61 points, lower to finish at 7,257.82.
The FTSE 100 looked set to post its first rise for more than a week on Monday but lost all its steam to finish in the red due to weakness in the housing sector and climbing bond yields.
“The US 10-year yield has pushed to its highest level since 2007, while UK gilt yields are also pushing back towards their highs of the month.” In company news, Crest Nicholson was among the day’s poorest performers after it downgraded its profit outlook for the year as buyers were put off by the tough economic climate.
The addiction treatment specialist said it has agreed to pay 30 million US dollars to end payor claimants, in the case related to its Suboxone drug.B&M European Value Retail was up for the day after analysts at Liberum said the firm’s stock could rise further, saying there are still “too many positives to ignore”.The price of oil lost some of its early gains but remained a touch higher as it held on to some momentum from gains in the two previous trading sessions.
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London markets inch lower as housing firms drive dropLondon’s top flight moved 0.06, or 4.61 points, lower to finish at 7,257.82.
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