Business

FTSE 100 down but resources shares strong risers

FTSE

(Close): The London market closed lower but oil and mining companies were showing good gains, as the price of oil rose.

The FTSE 100 index fell 58.59 points to 5,931.78 points - a fall of 0.98%.

Anglo American extended gains to stand up 8% on news of higher output at its Brazilian mine and Royal Dutch Shell shares rose more than 2%.

Lloyds Banking Group lost 1.3% on news the government was delaying its sale of its remaining stake.

Fellow state-supported bank RBS was also lower, falling by nearly 2%.

Utilities giant Centrica was down 4.7% after a broker downgrade. Two rival power providers recently cut prices.

SSE announced its price cuts at the start of business on Thursday, its shares finished down by 0.5%.

Typically all of the big six providers follow each other in this.

Ashtead Group shares were down 7.7% and the biggest faller on the 100 list after its US equivalent, United Rentals reported weak quarterly results.

On the economic front, the latest figures on the state of the UK economy showed growth at 0.5% in the fourth quarter of last year. That gave an annual rate of growth of 2.2% - well down on 2014's 2.9% but still leaving the UK among the fastest-growing developed nations.

On the currency markets, the pound was up 0.89% against the dollar to $1.43610 and was also up 0.36% against the euro at €1.3114.

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