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(Close): After spending most of the morning in positive territory the FTSE 100 closed down lower, with airline Easyjet leading the fallers. | |
Shares in Easyjet fell 94p, or 6.4%, to 1,365p after Bank of America Merrill Lynch cut its rating on the carrier to "underperform". | |
The benchmark FTSE 100 index closed down 13.83 points at 6,743.94. | |
Drinks group Diageo was among the top risers, up 18.5p, or 1%, at 1,866p on rumours it could merge with SAB Miller. | |
Shares in drugmaker Shire had risen sharply in early trade on speculation it could receive a higher takeover bid from suitor AbbVie, and after the firm said it had received a $410m (£241m) tax refund from Canadian authorities. | Shares in drugmaker Shire had risen sharply in early trade on speculation it could receive a higher takeover bid from suitor AbbVie, and after the firm said it had received a $410m (£241m) tax refund from Canadian authorities. |
However, as the morning progressed the shares lost some of their gains and they eventually ended the day flat at 4,570p. | |
Sports Direct shares fell 17p. or 2.4%, to 706.5p. The sports goods retailer denied speculation that it was mulling a takeover bid for shoe retailer Office. | |
On the currency markets, the pound edged up 0.04% against the dollar to $1.7043, and rose 0.1% against the euro at 1.2494 euros. |