Business

FTSE 100 closes down despite Randgold boost

City traders Image copyright Getty Images

Gold miner Randgold Resources was the stand-out gainer in an otherwise lacklustre day on the FTSE 100.

Randgold's shares closed 4.1% higher after fourth-quarter profits climbed 22% to $94.3m, and it raised its dividend by a half.

The FTSE 100 drifted lower in late trading after making headway in the morning, ending 0.22% off at 7,172.1.

Tesco was the biggest loser, down 2.1%, followed by British Airways' owner IAG and RBS bank, both slipping 2%.

Housebuilders Taylor Wimpey, Barratt Developments and Persimmon were down between 1.6% and 1.7% ahead of the expected launch on Tuesday of the government's housing strategy.

Housing minister Gavin Barwell said on Sunday the property market was too dependent on large homebuilders.

Shares in Ryanair fell 0.6% after the budget airline said average fares fell more than expected in the last three months of 2016 amid a capacity glut in Europe's short-haul market.

On the currency markets, the pound fell 0.31% against the dollar to $1.2445, but rose 0.21% against the euro to 1.1596 euros.