Business

London Market Report

  • 1 August 2014
  • From the section Business

(Close): The FTSE 100 fell sharply on Friday due in part to the West's sanctions against Russia and US jobs data.

As markets closed, the benchmark FTSE index was down 50.93 points at 6679.18.

Water firm United Utilities was the biggest loser, falling 3.8% after a broker downgrade from Credit Suisse.

Mining stocks also dragged the index down. Randgold fell 1% and Anglo American fell 1.2%.

Bucking the trend, IAG, which owns British Airways and Iberia, was among the top gainers.

The firm's shares rose 2.2% after it reported a pre-tax profit of 155m euros ($207m; £123m), compared with a 177m-euro loss a year ago, thanks to an improved performance at Iberia.

On the currency markets, the pound was down 0.31% against the dollar at $1.68330, and down 0.6% against the euro at 1.2535 euros.