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Version 1 Version 2
London Market Report London Market Report
(about 5 hours later)
(Noon): Broadcaster ITV was the biggest riser on the London stock market in Thursday morning trading. (Close): Broadcaster ITV was the biggest riser on the London stock market on Thursday.
The company's share price climbed 8.3% after it emerged that US cable giant Liberty Global had bought a 6.4% stake in it. The company's share price climbed 6.2% after it emerged that US cable giant Liberty Global had bought a 6.4% stake in it.
Liberty, which bought Virgin Media last year, paid BSkyB £481m to acquire the shares.Liberty, which bought Virgin Media last year, paid BSkyB £481m to acquire the shares.
Overall, by lunchtime the benchmark FTSE 100 index was down 52.03 points, or 0.77%, at 6,732.64. By the end of the day the benchmark FTSE 100 index closed down 46.35 points, or 0.68%, at 6,738.32.
Big losers included Sports Direct, which fell 2.5% despite a "record" 15% rise in annual pre-tax profits to £239.5m. Big losers included Sports Direct, which fell 2.2% despite a "record" 15% rise in annual pre-tax profits to £239.5m.
Biggest faller was beverage can maker Rexam, down 2.7% after a broker downgrade. The biggest faller was online appliances retailer AO World, whose shares fell 6.1% to 229p.
On the currency markets, the pound was down 0.17% against the dollar at $1.7108, and 0.18% lower against the euro at 1.2647 euros. The drop came despite the firm saying trading for the three months to 30 June saw like-for-like sales grow 30% compared to the same period a year ago.
Analysts attributed the fall to fears over the firm's expansion into Germany, planned for later this year.
On the currency markets, the pound was down 0.2% against the dollar at $1.7103, and 0.22% lower against the euro at 1.2642 euros.