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FTSE 100 Index

Last Updated at 27 Aug 2014, 11:36 ET *Chart shows local time FTSE 100 intraday chart
value change %
6830.66 +

Top winner and loser

Petrofac Ltd.

1149.00 p +

Sainsbury (J)

304.20 p -
value change %

FTSE 250 Index

16024.64 +

FTSE 350 Index

3714.85 +

FTSE All Share Index

3649.22 +

FTSE Techmark Index

3343.43 +

(Close): Worries over tensions in Ukraine and Iraq saw the FTSE 100 drift lower for a second trading session.

The benchmark index fell 0.34%, or 23.2 points, to 6,754.64, following a 1% fall on Friday.

Fresnillo, up 1.86%, was the biggest riser, while the London Stock Exchange, down 2.29%, was the main loser.

It came as the pound briefly hit 1.70 against the US dollar on expectations that the Bank of England could increase interest rates later this year.

"All of these remarks do suggest the tide is turning at the Bank of England," said Jane Foley, a currency strategist with Rabobank in London. "Whether that means that a hike by the end of this year is on the cards, we are not sure."

She added that Bank of England minutes, released later this week, should go some way to indicating when a rate rise might come.

Shares in the British medical company Smith and Nephew closed 0.09% down, having initially fallen 1.4% after a decision by a potential suitor, American firm Medtronic, to buy its rival Covidien instead.

The prospect of rising fuel prices pushed British Airways-owner IAG and Easyjet lower.

Outside the top tier, Majestic Wine slid nearly 4% as it reported flat profits and warned that its rate of online growth had slowed due to new entrants into the market.

More Business stories


BBC Business Live

    QANTAS 06:12:
    A Qantas Airline plane gets takes off at Sydney Airport in Sydney on August 28, 2014

    Overnight Australia's national airliner Qantas reported a huge loss of A$2.8bn for the past year - its biggest ever. That was partly due to writing down the value of its planes by A$2.6bn. Qantas added weak domestic demand, poor consumer spending and rising fuel costs also contributed. Chief executive Alan Joyce tried to put some gloss on the figures: "There is no doubt today's numbers are confronting... but they represent the year that is past".


    Pro-independence business people in Scotland have hit back. 200 of them have signed a letter, appearing in the Herald online, saying that the business case for independence "has been made - and it's strong and ambitious". They add: "The real threat to Scotland is the real possibility of a British exit from the European common market".

    Rebecca Marston Business reporter, BBC News

    The monitor has been fitted and off we go. You can plug in to us or @bbcbusiness. Here until 13:00.

    06:00: Ian Pollock Business reporter, BBC News

    Good morning, the Business Live page will have its finger on the business pulse, just for you.



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