FTSE closes under a cloud

first_img THE FTSE 100 closed down 0.3 per cent or 16.37 points at 5,985.70 today, under a cloud as EU finance ministers gathered to discuss changes to the eurozone’s bailout fund, and weighed down by miners and banks.Trading was also lacklustre as US markets were closed for the Martin Luther King Jr day holiday.Merger and acquisition moves boosted trading at points, however, with Smiths taking the top spot, up 7.7 per cent, after the engineering firm rebuffed a £2.45bn bid for its medical unit.Artificial knee and hip maker Smith & Nephew also rose 3.5 per cent following a weekend report that Johnson & Johnson was considering a fresh takeover approach worth at least 800p a share, valuing it at £7.1bn.BP edged up 0.2 per cent, outperforming sector peers, as investors and analysts gave a cautious welcome to its share swap and Arctic exploration deal with Russia’s Rosneft, saying any return is likely a long way off.And Vodafone added 1.8 per cent as investors awaited a deal for the British mobile operator to dispose of its 44 per cent stake in French mobile operator SFR for €7-8bn (£6-6.7bn).Among the fallers, miners Fresnillo (down 3.55 per cent to 1,439p) and Kazakhmys were out of favour amid lower metals prices after China increased reserve requirements for banks in an attempt to curb inflation. Banks fell as investors locked in profits from a sector that has enjoyed a good start to 2011 despite Europe’s sovereign debt problems lingering in the background. Lloyds was down 2.17 per cent to 68.10p.Fund manager Schroders lost ground after UBS downgraded the stock to “neutral” from “buy”. 
The concerns surrounding Apple’s chief executive Steve Jobs caused its supplier ARM Holdings’ share price to fall three per cent. Jobs is taking his third period of medical leave two years after a six-month break for a liver transplant.Autonomy shed 5.1 per cent, the worst performing FTSE 100 stock, after Standard and Poor’s equity research said a lack of a positive pre-announcement does not bode well for the British software firm’s fourth-quarter results.And engineer Weir Group shed 2.8 per cent, with traders citing talk of a potential bid for Swiss rival Sulzer. Share whatsapp Show Comments ▼ alison.lock FTSE closes under a cloud whatsappcenter_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Monday 17 January 2011 4:06 pmlast_img read more