London Market Report
|London | Wall Street | Asia|
(Close): Insurance firms led shares in London lower, with Aviva the biggest loser.
The firm's shares sank 6.3% after it outlined a plan to turn around the business.
Admiral shares sank 3% after it said first-half revenues had fallen and there was no sign that car insurance premiums were growing again.
Admiral also said it would raise up to £200m through its first bond issue to help prepare for new EU rules.
After falling more than 1% on Tuesday, the FTSE 100 index closed down 20.41 points at 6,718.04 as the market tracked losses on other major indexes.
Airline shares staged a recovery after having fallen on Tuesday following a profit warning from Air France-KLM. EasyJet finished as the biggest FTSE 100 winner, climbing 3.1% to top the board.
Outside the FTSE 100, JD Wetherspoon shares fell almost 2% after the pub group said growth in underlying sales had slowed over the past 10 weeks.
Sales at pubs open for more than a year during the 10 weeks to 6 July rose 4.9% compared with growth of 6.2% in the 13 weeks to 27 April.
"Although sales have slowed in recent weeks, the company remains confident of a reasonable outcome in the current financial year," it said.
Shares in Thorntons rose 2.3% after the chocolate maker said it was on track to hit full-year profit expectations.
In the quarter to 28 June, total sales rose by 0.6% as the company continued its rebalancing by moving away from running stores to concentrating on the manufacturing and supply of chocolate.