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FTSE 100 Index

Last Updated at 18 Oct 2017, 12:07 GMT *Chart shows local time FTSE 100 intraday chart
value change %
7549.47 +
+33.30
+
+0.44

Top winner and loser

Pearson

686.00 p +
+19.00
+
+2.85

Reckitt Benckiser Group

6895.00 p -
-140.00
-
-1.99
value change %

FTSE 250 Index

20279.33 +
+148.38
+
+0.74

FTSE 350 Index

4197.51 +
+20.60
+
+0.49

FTSE All Share Index

4144.23 +
+19.78
+
+0.48

FTSE Techmark Index

4679.46 +
+23.98
+
+0.52

(Close): Stocks in London failed to share the euphoria that spread through European markets immediately after the European Central Bank announced a raft of measures to tackle poor growth and the threat of inflation in the eurozone.

As well as cutting its benchmark interest rate to 0.15% from 0.25%, the ECB lowered its deposit rate below zero, to -0.1%, to try to force banks to lend to businesses.

London's benchmark FTSE 100 index closed 0.08% lower at 6,813.49 points.

Despite the ECB moves, European shares ended on a mixed note.

Soon after the ECB's announcement, Frankfurt's DAX 30 soared about 10,000, but it ended up 0.21% at 9,947.83 points. In Paris, the CAC 40 in Paris closed 1.06% higher at 4.548,73 points, its highest point since June 2008.

Central Markets trading analyst Joe Neighbour said: "The FTSE is getting left behind. The DAX keeps breaking new record highs, but the FTSE keeps coming up short."

Earlier the Bank of England had left UK interest rates unchanged at 0.5% as expected.

The ECB's measures initially pushed the value of the euro down, but it soon stabilised. At the close, the pound was 0.16% higher at 1.23280 against the euro.

The biggest faller on the FTSE 100 was the housebuilder Persimmon, the Halifax recorded the strongest monthly uplift in house prices since 2002.

That raised fears that the Bank of England will take steps to cool the current property boom.

Shares in Persimmon fell 5.26%.

Medical devices company Smith & Nephew closed 2.6% higher, as the takeover speculation surrounding the company continued.

US company Medtronic is the latest company to be named as a possible suitor. Last week, it was reported that US firm Stryker was considering making a bid for Smith & Nephew, although Stryker subsequently denied the report.

Outside the FTSE 100, the online fashion retailer Asos saw it shares plunge 31%, after it issued a profit warning.

Asos said the strength of the pound had hurt its overseas sales and forced it to launch a series of promotions.

That had a knock-on effect on shares in other clothing retailers.

Shares in Associated British Foods, which owns Primark, fell 0.46% and shares in Next were down 0.08% by the close.

Property website Zoopla announced the price range for its forthcoming flotation. It said its shares would be priced at between 200p and 250p, which would value the firm at about £940m.