FTSE 100 in the red – just
The UK’s top share index finished a shade down at 7,026, off by nearly three points, or 0.04%
- FTSE 100 closes a shade lower
- US stocks muted but higher
- Vectura receives bid
5pm: FTSE 100 closes slightly in the red
FTSE 100 index closed near flat on Wednesday as there were few catalysts to excite investors.
The UK’s top share index finished a shade down at 7,026, off by nearly three points, or 0.04%.
Meanwhile, the midcap FTSE 250 went higher, ending the midweek session up over 201 points, or 0.90%, at 22,640.
“Weaker bank stocks have dragged the FTSE 100 lower on a day of little news, with European markets similarly affected by some late-month ennui,” noted Chris Beauchamp, chief market analyst at inline trading group IG.
“Overall, investors appear to be fairly content with the outlook for policy, and inflation concerns have certainly receded for the time being.
“This will mean that further gains in bank stocks based off hopes of rising yields will be cancelled out for the time being, resulting in banks joining in the list of stocks that have struggled to find a catalyst to keep rising.”
On Wall Street, the Dow Jones Industrial Average nudged up around 56 points at 34,388. The S&P 500 gained around nine points at 4,197 and the tech-heavy Nasdaq advanced around 75 points at 13,732.
4.10pm: Drugs group shares fall back
The FTSE 100 cannot seem to drag itself back into positive territory.
The leading index is down 2.96 points at 7026.83 despite positive moves from () and Aveva PLC ().
Housebuilders are also providing some support as investors bet the current housing boom will continue.
But banks are proving a drag on the market, as are Intertek PLC () and PLC () after their results.
PLC () is down 0.77% at 8021p after the European Union told a court the company should pay billions of euros in damages if it does not increase deliveries of its COVID-19 vaccine to the bloc by next month.
The company supplied only 30mln of the 120mln doses it was meant to deliver by the end of March, but it blamed production difficulties and said the legal case was without merit.
3.22pm: Aveva moves to the top of the risers
With Wall Street staying in positive territory, the FTSE 100 has regained some ground and is trading virtually flat.
The index is down just 2.1 points at 7027.69, with Aveva PLC () topping the risers. The software group is up 2.79% at 3421p in the wake of its recent results.
But banking shares continue to hold the market back, as do Intertek PLC () and PLC () following their figures.
3pm: Proactive North America headlines:
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