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FTSE 100 recovers from early losses | FTSE 100 recovers from early losses |
(about 4 hours later) | |
(Close): After sliding in early trade, the FTSE 100 recovered to close 38.47 points higher at 6,374.82. | |
News that the Bank of England had voted by 8 votes to 1 to hold UK interest rates at 0.5% - as expected - had little effect on the market. | News that the Bank of England had voted by 8 votes to 1 to hold UK interest rates at 0.5% - as expected - had little effect on the market. |
Top risers in the FTSE 100 included mining firm Fresnillo, up 4.2%, and retail giant Tesco, up 2.4%. | |
Mining giant Glencore was one of the biggest fallers, down 2.7%, after downbeat comments from brokers. | |
Canaccord Genuity cut its target price on the stock to 190p from 220p. | Canaccord Genuity cut its target price on the stock to 190p from 220p. |
A number of shares going ex-dividend also weighed on the index, with B&Q owner Kingfisher falling 0.5%. | |
Banking shares came under pressure after Deutsche Bank warned of a big third-quarter loss. | Banking shares came under pressure after Deutsche Bank warned of a big third-quarter loss. |
Deutsche said it would post a net loss of €6.2bn (£4.5bn) for the quarter, partly due to higher capital requirements for its investment bank. | Deutsche said it would post a net loss of €6.2bn (£4.5bn) for the quarter, partly due to higher capital requirements for its investment bank. |
Shares in Barclays followed an erratic course throughout the day, but ended in negative territory, down 0.4%. | |
On the currency markets, the pound dipped 0.11% against the dollar to $1.5302 and fell 0.5% against the euro to €1.3564. |