AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 132.66 Increased By ▲ 3.13 (2.42%)
BOP 6.89 Increased By ▲ 0.21 (3.14%)
CNERGY 4.57 Decreased By ▼ -0.06 (-1.3%)
DCL 8.92 Decreased By ▼ -0.02 (-0.22%)
DFML 42.75 Increased By ▲ 1.06 (2.54%)
DGKC 84.00 Increased By ▲ 0.23 (0.27%)
FCCL 32.90 Increased By ▲ 0.13 (0.4%)
FFBL 77.06 Increased By ▲ 1.59 (2.11%)
FFL 12.20 Increased By ▲ 0.73 (6.36%)
HUBC 110.01 Decreased By ▼ -0.54 (-0.49%)
HUMNL 14.40 Decreased By ▼ -0.16 (-1.1%)
KEL 5.53 Increased By ▲ 0.14 (2.6%)
KOSM 8.32 Decreased By ▼ -0.08 (-0.95%)
MLCF 39.67 Decreased By ▼ -0.12 (-0.3%)
NBP 65.50 Increased By ▲ 5.21 (8.64%)
OGDC 198.74 Decreased By ▼ -0.92 (-0.46%)
PAEL 26.00 Decreased By ▼ -0.65 (-2.44%)
PIBTL 7.62 Decreased By ▼ -0.04 (-0.52%)
PPL 159.00 Increased By ▲ 1.08 (0.68%)
PRL 26.24 Decreased By ▼ -0.49 (-1.83%)
PTC 18.35 Decreased By ▼ -0.11 (-0.6%)
SEARL 82.24 Decreased By ▼ -0.20 (-0.24%)
TELE 8.12 Decreased By ▼ -0.19 (-2.29%)
TOMCL 34.40 Decreased By ▼ -0.11 (-0.32%)
TPLP 8.98 Decreased By ▼ -0.08 (-0.88%)
TREET 16.88 Decreased By ▼ -0.59 (-3.38%)
TRG 59.49 Decreased By ▼ -1.83 (-2.98%)
UNITY 27.52 Increased By ▲ 0.09 (0.33%)
WTL 1.40 Increased By ▲ 0.02 (1.45%)
BR100 10,614 Increased By 206.9 (1.99%)
BR30 31,874 Increased By 160.5 (0.51%)
KSE100 98,972 Increased By 1644 (1.69%)
KSE30 30,784 Increased By 591.7 (1.96%)

Britain's top equity index fell on Friday, extending losses from the previous session caused by disappointment over the European Central Bank's policy update, with miners and oil stocks reversing previous gains following a statement by Opec. Opec members failed to agree an oil production ceiling on Friday at a meeting that ended in acrimony, after Iran said it would not consider any production curbs until it restores output scaled back for years under Western sanctions.
Oil stocks BP and Royal Dutch Shell both slumped 2.4 percent, while miners Glencore and Anglo American were down 3.2 percent and 2.8 percent respectively. Among other fallers, hotels, coffee shops and restaurant operator Whitbread slid nearly 3 percent after analysts at Barclays downgraded their rating on Whitbread to "equal weight" from "overweight".
The bluechip FTSE 100 index was down 0.6 percent at 6,238.29 points at its close, with markets sent lower following robust US non-farm payrolls data which signalled that a rate rise in the US was on the cards for December. "The rate rise is not the focus - the focus is how dovish (the Fed is) going to be going forward about further rate rises," said Zeg Choudhry, managing director at LONTRAD.
He added that he had expected markets to react positively to the figure. Among the biggest gainers, housebuilder Berkeley rose 7.5 percent after the company said it was on course to meet profit targets. Fellow housebuilders Taylor Wimpey , Barratt Developments and Persimmon all gained between 0.9 and 1.4 percent. "(Berkeley Group Holdings have) been quite forthcoming on their dividend policies. Returning cash to investors is something that the market always likes, so in sympathy with that we are seeing an outperformance among the housebuilders," said Jonathan Roy, advisory investment manager at Charles Hanover investments.
Stock markets across Europe were down, extending steep losses from the previous session when the European Central Bank's new stimulus measures disappointed some investors. While ECB President Mario Draghi announced on Thursday that the ECB's asset purchase programme would be extended, he did not increase the size of the programme, and expectations of more monetary easing were dashed. The FTSE 100 raced to a record high of 7,122.74 points in April but has since lost ground, affected by signs of a slowdown in China - the world's second biggest economy - and uncertainty over the future policies of major world central banks.

Copyright Reuters, 2015

Comments

Comments are closed.