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FTSE lower ahead of Greece meeting | FTSE lower ahead of Greece meeting |
(about 5 hours later) | |
(Close): The FTSE 100 fell as investors remained cautious ahead of the latest meeting of European finance ministers. | |
Doubts are growing that a solution to Greece's debt problem will be found, and German finance minister Wolfgang Schaeuble says he is not optimistic. | Doubts are growing that a solution to Greece's debt problem will be found, and German finance minister Wolfgang Schaeuble says he is not optimistic. |
The benchmark FTSE 100 index dropped 16.5 points to 6,857.05. | |
Centrica shares fell 2.8% to 278.80 after a broker cut its price target for the stock and reports suggested the firm will report a big drop in profits. | |
Citi cut its price target for the British Gas owner to 285p. Reports have also suggested that the energy firm will post a near-30% fall in annual operating profits on Thursday. | Citi cut its price target for the British Gas owner to 285p. Reports have also suggested that the energy firm will post a near-30% fall in annual operating profits on Thursday. |
Mining company Fresnillo was another firm to be hit by broker comments. Its shares slipped 4.3% after Morgan Stanley said it was "time to take profits". | |
Outside the FTSE 100, shares in 888 Holdings fell 11% after it said that talks over a possible takeover by William Hill had been scrapped. | |
888 said the discussions had been abandoned following a "significant difference of opinion on value with a key stakeholder". William Hill shares were up 0.76% following the news. | |
Shares in Jimmy Choo rose nearly 4% after HSBC raised its rating on the luxury shoe maker to "overweight" from "neutral". | |
On the currency markets, the pound fell 0.3% against the dollar to $1.5355 while against the euro was little changed at €1.3503. |
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