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FTSE 100 dips as Royal Mail falls FTSE 100 dips as Royal Mail falls
(about 5 hours later)
(Noon): London's leading shares fell on Friday morning amid thin trading, with Royal Mail leading the downward trend. (Close): London's leading shares have closed for the week with Royal Mail having a yo yo day.
The stock shed 3.6%, apparently because of worries over forthcoming pay talks with unions. The stock shed 3.6% in early trading because of worries over forthcoming pay talks but recovered some of that loss to close 1.8% lower at 471.90p
The FTSE 100 ended the day down 29 points, or 0.47%, at 6146.05.
Another big loser was supermarket chain Sainsbury's, which dropped 2.2% as investors delivered their verdict on its deal to buy Home Retail Group.Another big loser was supermarket chain Sainsbury's, which dropped 2.2% as investors delivered their verdict on its deal to buy Home Retail Group.
By lunchtime, the benchmark FTSE 100 index was down 76.08 points, or 1.23%, at 6,098.82. Miners were amongst the top five stocks that saw falls and included Glencore, Antofagasta and Fresnillo.
On the currency markets, the pound was down 0.51% against the dollar at $1.4288 and was 0.8% lower against the euro at €1.2522. On the currency markets, the pound was down 1.11% against the dollar at $1.4201 and was 1.09% lower against the euro at €1.2486.