Advertisement
UK markets closed

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     

  • AIM

    755.28
    +2.16 (+0.29%)
     

  • GBP/EUR

    1.1679
    +0.0022 (+0.19%)
     

  • GBP/USD

    1.2494
    -0.0017 (-0.13%)
     

  • Bitcoin GBP

    50,495.02
    -899.92 (-1.75%)
     

  • CMC Crypto 200

    1,319.79
    -76.75 (-5.49%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     

  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,161.01
    +243.73 (+1.36%)
     

  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

FTSE retreats on oil stocks and weak company results

Reuters - UK Focus

* Blue (OTC BB: BUES - news) -chip FTSE 100 down 0.4 percent

* Oil companies fall on weak U.S (Other OTC: UBGXF - news) . data

* IAG results disappoint investors

* RBS (LSE: RBS.L - news) down on Q3 loss, faces litigation costs

By Kit Rees

LONDON Oct 30 (Reuters) - UK shares fell on Friday, pulled lower by some disappointing company results, with oil firms falling after the price of crude retreated on weak U.S. economic growth data.

The blue-chip FTSE 100 index was down 0.4 percent at 6,370.02 points by 1134 GMT, although it was headed for its best monthly performance since July 2013.

"I'm still of the theory that this is a bear market rally," Jasper Lawler, market analyst at CMC Markets, said.

ADVERTISEMENT

"I think no one ... can confidently say that we are going to be breaking out higher into the next leg of the bull market right now, and with the uncertainty, and the fact that we've already had a good, strong move higher, leads me to think that maybe we could be about to turn down."

Oil companies fell after the price of oil slipped following disappointing U.S. economic growth figures, with the UK Oil & Gas index falling 0.8 percent.

Shares (Berlin: DI6.BE - news) in airline IAG fell 3.8 percent after its profit guidance disappointed investors.

"This reversion looks like little more than profit-taking off the back of the good news, but as has been noted this is a cyclical industry and how much more upside is left does present a reason to be cautious," Trustnet Direct market analyst Tony Cross wrote in a note.

Royal Bank of Scotland retreated 1.7 percent after posting a loss in third-quarter results and warning that future costs relating to litigation and past misconduct could be substantially higher than expected.

Among mid-cap companies, drug developer Vectura Group (LSE: VEC.L - news) rose 8.4 percent after the U.S. Food and Drug Administration cleared treatments for chronic obstructive pulmonary disease. (Additional reporting by Atul Prakash; Editing by Alison Williams)