Business

London Market Report

  • 10 June 2014
  • From the section Business

(Close): The FTSE 100 failed to progress, ending 1.4 points down at 6873.6, having climbed to its highest close in six years in the previous session on the back of continued optimism surrounding the US economy.

A number of major stock markets have been hitting record highs in recent days, including the Dow Jones and S&P 500 in the US, and Germany's Dax index.

The pound rose 0.8% against the euro to 1.2371 euros after the release of strong UK industrial output figures.

Output in April rose by 3% year-on-year, the fastest pace for three years.

Among individual stocks, Imperial Tobacco rose 0.77% after it said it would float its European logistics division Logista in Spain.

Oxford Instruments saw its shares rise 2.2% after the technology tools maker reported an increase in full-year adjusted profits.

Shares in designer clothing brand Ted Baker had a mixed morning after it reported an 18% rise in first-quarter sales. The firm's shares climbed 1.5% at first, but then fell back and were down 4.2% on the day at midday.