FTSE falls as eurozone woes dominate

The top share index in the UK was lower on Thursday as fears over the ongoing crisis in Europe weighed heavily on investors. By the close of the penultimate session of the week, the FTSE 100 was lower by 0.3 per cent, dropping over 15 points to end at 5444.

Chris Bradshaw
shareprices.com - Friday, November 11, 2011

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Shares wobbled between high and low as unemployment figures from the US boosted sentiment, only to be dragged lower by more eurozone fears, as French borrowing costs rose. Cautious investors refrained from trading, with volumes very thin and the volatility index rising reflecting market concerns.

The biggest riser in the blue chips was credit checking firm, Experian, who climbed by 5.36 per cent after it announed that it would be pushing its interim divident payments up by 14 per cent due to strong results in the first two quarters of 2011.

At the opposite end of the leaderboard, Vendanta Resources did not fare quite as well, slumping by 9.52 per cent. The drop was caused by the miner's attributable profit figures nosediving to just $28 million, down from $337 million.

Sector peers were also lower overall, with Randgold Resources, Antofagasta and Rio Tinto all featuring in the top 10 heaviest fallers of the day with losses ranging between 4.04 per cent to 1.88 per cent. The one stock to buck the trend was Anglo American which was the eighth best performer of the day, rising by 1.30 per cent.

Away from the miners, Admiral was another of the day's casualties, shedding 7.61 per cent in addition to almost 30 per cent wiped off its share price during the previous session. The move lower comes as the firm told markets thatit anticipated its annual profits would be at the bottom end of predictions.

 

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