FTSE 100 loses ground to cap a miserable week

UK shares shed around one per cent today, capping a disappointing week for investors.

The FTSE 100 closed down 1.3 per cent, the mid-cap FTSE 250 was 0.8 per cent lower and the All-Share fell 1.2 per cent.

After losing ground on Friday opening, London-listed equities almost recovered during mid-morning activity. Apost-lunchh sell-off prompted another attempted revival mid-afternoon before shares nosed further south, ending the day at their lowest point.

Gripped by fears of a global market sell-off, Britain’s blue-chip index ended the week fell almost five per cent lower.

Index

2 February close

9 February close

One-week loss

FTSE 100

7443.43

7077.94

-4.91%

FTSE 250

19962.46

19217.49

-3.73%

FTSE All-Share

4086.72

3894.98

-4.69%

Read more: The FTSE 100 is falling again after a sharp drop on Asian markets

The whole Hogg

FTSE 250 travel firm Hogg Robinson was today’s stand-out performer. Shares leapt around 50 per cent after a takeover bid from American Express’ travel arm was announced.

Another company hitting the headlines this morning was Trinity Mirror, which saw shares jump over seven per cent after sealing a deal to buy Express and Star owner Northern & Shell.

Notable fallers were materials firm Porvair (down almost 10 per cent), emerging markets asset manager and Ashmore (down nearly nine per cent).

“European stock markets are in negative territory as the rate of decline is picking up as we approach the end of the trading week, said CMC Markets analyst David Madden.

“There was a sense that things weren’t too bad in terms of sentiment in the morning, but as we approach the weekend, the nerves are beginning to show. The feeling is clear that traders want to trim their positions ahead of the closing bell.”

Germany’s Dax closed 1.3 per cent lower with France’s Cac 1.4 per cent down.

Read more: Bank of England signals markets to expect earlier interest rate hike