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RSA shares hold back FTSE 100 index | RSA shares hold back FTSE 100 index |
(about 5 hours later) | |
(Close): Shares in insurance company RSA held back gains on the FTSE 100, after Swiss rival Zurich abandoned its bid plans. | |
RSA shares closed 20.8% lower, making it easily the biggest loser. | |
Overall, the FTSE 100 share index closed 0.08% higher, or 4.6 points, at 6,108.71. | |
Shares in the satellite firm Inmarsat rose more than 1% after it announced a deal with Deutsche Telekom to bring passengers in-flight internet. | |
Deutsche Telekom will supply the 4G, while Inmarsat will supply the satellite access. | Deutsche Telekom will supply the 4G, while Inmarsat will supply the satellite access. |
Meanwhile, fashion retailer French Connection saw its shares slump 8.9% after earnings showed it had fallen deeper into the red. | |
The company reported a loss for the first half of the year of £7.9m, compared with a £3.9m loss in the same period last year. | |
The chairman Stephen Marks describing it as "a tough trading period". | The chairman Stephen Marks describing it as "a tough trading period". |
On the currency markets, the pound was down 0.14% against the dollar to $1.5507 and was up 0.86% against the euro at €1.3859. |