Light volume keeps FTSE above 5000 points

Volume was light at 2.4 billion shares in London equities trading on Wednesday, as the FTSE 100 fell 0.4 percent to close at 5,003.7 on Wednesday, and the FTSE 250 was down 0.2 percent for a closing level of 7,227.3.

Among the losers of the day were retailer Kingfisher, which fell 1.9 percent after Home Depot said they would not make a bid for the company. Wm Morrison, the supermarket group, lost 2.3 percent to 182 ½p after issuing a fifth profits warning.

British American Tobacco decline 1.1 percent to £10.78 as a lawsuit seeking recovery of C$10 billion in health care costs was filed against the company by British Columbia.

Among the gainers were BP, which was up 0.1 percent to 563p after the announcement that it’s petrochemicals and refining subsidiary will invest $2 billion in the petrochemicals sector of Saudi Arabia.

Online gaming group Ukbetting gained 7.3 percent to 51 ¾p on takeover speculation.

Nightclub operator Urbium rose 10.2 percent to 700p as it confirmed that it has turned down a share-based takeover offer from Regent Inns. The news caused shares in Regent Inns to fall 4.3 percent on the day to close at 77 ½ percent.

Story link: Light volume keeps FTSE above 5000 points