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Royal Mail helps FTSE to end lower | |
(about 5 hours later) | |
(Close): London's main share index remains lower at the close on Tuesday, led by Royal Mail. | |
Royal Mail shares were down 4.9% at 432.2p after the investment bank, JP Morgan cut its rating and price target on the company. | |
Overall, the FTSE 100 slipped by 8.03 points to 6829.12. | |
Shares in Marks and Spencer were the best among the 100 gainers, up by 5% to 498.7p. | |
Supermarket chain Morrisons had been the top performer, up 6% at one stage after January sales figures showed some improvement. That closed up 3.4%. | |
Retail analysts Kantar Worldpanel said Tesco saw its first increase in sales in since January last year, while sales at Morrison's fell by just 0.4% over the same period. Tesco shares were 3.6% higher. | |
On the currency markets, the pound was up 0.23% against the dollar at $1.523. Against the euro the pound was up 0.31% at €1.3478. | |