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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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FTSE100 finishes flat despite late rally

FTSE100 saw a late rally as investors turned to pick up bargains but it still closed in the red, albeit slightly. The UK benchmark closed at 6,710, 0.42 points down - practically flat as Greek debt fears...

FTSE100 saw a late rally as investors turned to pick up bargains but it still closed in the red, albeit slightly.

The UK benchmark closed at 6,710, 0.42 points down - practically flat as Greek debt fears were still in focus and investors look to the start of the two day Fed meeting in the US tomorrow.

The big riser was cigarette-maker British American Tobacco (LON:BATS), which added 2.77% to 3,511p.

It was boosted by an upgrade to ‘outperform’ from Credit Suisse. The bank has restarted coverage after the recent merger of Reynolds and Lorillard.

Barratt Developments (LON:BDEV) was also 2.27% higher at 609.5p.

Greek prime minister Alexis Tsipras is sticking to a hard line of negotiating as he aims to unlock funds, as well as bring an end to austerity in the country, and who knows whether the result will be a Grexit or not.

"As the summer goes on, the Greek headlines become more dramatic. Perhaps it’s the rising temperature of the European capitals, or perhaps blood pressures are on the rise across the continent, but the situation appears to be heading out of control," said Chris Beauchamp at IG.

In small caps, a notable riser was domain name specialist Minds + Machines (LON:MMX), which gained 13.56% to 8.375p.

Also, iodine producer Iofina (LON:IOF) expects to exceed the upper end of production guidance in the first half of 2015. Share climbed 12.43% to 26p each.

Meanwhile, boiler specialist Flowgroup (LON:FLOW) warned it will see a substantial drop in the number of installations this year due to a lower rate of VAT on energy-saving products.

Shares plummeted 44.34% to 14.75p.

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