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FTSE 100 falls, with Merlin shares hit by profit alert | FTSE 100 falls, with Merlin shares hit by profit alert |
(about 4 hours later) | |
(Close): Merlin Entertainments was the biggest faller on the FTSE 100 after the firm warned profits would be hit by the effects of the rollercoaster crash at its Alton Towers theme park. | |
Merlin shares dropped 4.3% after it said the disruption caused by the crash would hit profits by up to £47m. | |
The FTSE 100 index closed down 74.68 points at 6,505.13. | |
Shares in Pearson were down 4.8% after it confirmed it was in talks to sell its 50% stake in the Economist. | |
Reckitt Benckiser was on the risers list, with its shares up 1.44% after the consumer goods firm raised its full-year revenue targets. | |
The firm, whose products include Durex condoms and Nurofen painkillers, said it was now aiming for like-for-like net revenue growth of 4-5%. | The firm, whose products include Durex condoms and Nurofen painkillers, said it was now aiming for like-for-like net revenue growth of 4-5%. |
This came after it reported first-quarter like-for-like sales growth of 5%. | This came after it reported first-quarter like-for-like sales growth of 5%. |
Mining shares were also having a better day after the gold price - which saw sharp falls last week - edged higher. Shares in Randgold Resources rose 1.3%. | |
On the currency markets, the pound was up 0.48% against the dollar at $1.5586 but fell 0.71% against the euro to €1.4033. | |
The euro had been bolstered by an upbeat German business confidence survey, with the Ifo institute's business climate index rising to 108.0 from June's revised figure of 107.5. | The euro had been bolstered by an upbeat German business confidence survey, with the Ifo institute's business climate index rising to 108.0 from June's revised figure of 107.5. |
The figure was better than expected and followed two months of declines. | The figure was better than expected and followed two months of declines. |