FTSE closes the day flat as miners weigh on BT and Sky gains – London Report
BRITAIN’S top share index yesterday steadied near a twomonth high, as stronger banking stocks were offset by a fall in mining companies as metals prices weakened.
The blue chip FTSE 100 index closed 1.35 points higher, or flat in percentage terms, at 6,731.14 points. The index reached a two-month high last week.
Disappointing earnings from some companies also limited the upside. Kingfisher fell 4.11 per cent to 291.30p after Europe’s biggest home-improvement retailer posted a drop in thirdquarter profit, hurt by a weak French market and currency moves.
Among other movers, fixed-line telecoms giant BT rose 0.43 per cent to 395.80p on talk of a deal to help it enter the mobile market.
Sky rose 2.57 per cent to 918p to top the FTSE 100’s gainers. Traders said BT’s likely move to focus on the mobile market may divert its attention from Sky’s key interest, pay TV.
Balfour Beatty looked brighter after a positive note from Bank of America Merrill Lynch, with its shares closing 8.4 per cent higher at 176.80p.