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FTSE 100 down from two-month high

FTSE 100

U.K. shares fell from a two-month high reached in the previous session, although expectations of stronger U.S. growth under U.S. President-elect Donald Trump helped limit the downside.

The benchmark FTSE 100 was down 5 points or 0.08 per cent at 7,038 in late opening deals after gaining 0.4 per cent the previous day.

Barclays lost half a per cent while Royal Bank of Scotland advanced 0.8 per cent after they were fined by the Swiss competition regulator for interest rate rigging.

Rolls-Royce gained about 1 per cent on receiving a contract worth nearly $408 million (£330.55 million).

Dairy Crest Group slid half a per cent as the dairy products company announced a research partnership with Danisco Animal Nutrition, part of DuPont’s Industrial Biosciences business.

Meggitt shares also dropped half a per cent after the aerospace and engineering group sold its drone targets business to QinetiQ for 57.5 million pounds in cash.

Carnival fell 1.5 per cent on profit taking after rising 3 per cent the previous day.

In economic releases, U.K. public sector net borrowing excluding intervention dropped by GBP 0.6 billion from prior year to GBP 12.6 billion in November, the Office for National Statistics said. The expected level was GBP 12.2 billion.

Paul

The author Paul