FTSE 100 ends flat
Thursday 5th February 2009, 5:13PM GMT.
The FTSE 100 gained a third of a point to end almost flat at 4,228.93, as the Bank of England’s rate cut failed to boost the market.
The central bank’s 0.5 per cent cut to one per cent did not come as a surprise and the reduction has been criticised by some commentators as potentially harmful to the economy.
Energy and oil stocks rose on the benchmark index, while consumer goods groups slipped.
Unilever, which today declined to give an outlook for 2009 due to market volatility, was the top faller with shares down 5.93 per cent, while Reckitt Benckiser Group shares dropped 5.23 per cent.
BG Group was the biggest riser on the index, up 10.2 per cent, while Xstrata rose 5.31 per cent and Tullow Oil climbed 2.32 per cent.
Sterling failed to react to the widely-expected interest rate cut.
Marc Cogliatti, currency strategist at foreign exchange specialists HiFX, said: “Sterling has now risen almost 12 per cent against the Euro since the beginning of the year and today’s rate cut has not halted its progress.
“The rebound also offers good news for British holiday makers heading for Europe this winter who had been facing the prospect of getting less than one euro for their pound.”
Shropshire Star on Twitter
Keep updated with the latest breaking news and content on our Twitter feed.
Lifestyle
Interactive Dining Out map
Hundreds of reviews by the Shropshire Star and Express & Star's teams to help you decide where to eat.
Entertainment
All the film reviews
Before you plan a trip to the pictures, get our critics' verdicts on all the latest movie releases.
OUR NEW APP
Get the new Shropshire Star app
Download the Shropshire Star’s new app to your iPad or iPhone to get one week of access to our digital newspapers absolutely FREE.
shropshirestar.com
Popular sections
Useful links
