Business

London Market Report

  • 8 August 2014
  • From the section Business

(Close): The news that Barack Obama had authorised air strikes against Islamist militants in Iraq pushed shares lower.

The FTSE 100 closed 0.45% lower, down 30.01, at 6,567.36.

Markets had already been under pressure this week because of concerns over the situation in Ukraine.

In the FTSE 250, oil firm Afren fell 5.5% at first after it suspended output at its Barda Rash oilfield in Iraq, but then recovered to stand just 0.9% lower.

Tui Travel shares gained 0.08% after the tour operator reported a 21% increase in third-quarter profits.

Bellway Homes dropped 0.2%. The housebuilder said the number of housing completions had risen by 21% in the year to end-July to 6,851, with the average selling price up by about 10% to £213,000.

On the currency markets, the pound fell 0.36% against the dollar to $1.67720 and dropped 0.71% against the euro to 1.2673 euros.