FTSE closes at 5470.7
Updated on 26 August 2008
The FTSE 100 Index, which was more than 130 points lower at one point, closed down 34.9 points at 5470.7.
Heavyweight miner Rio Tinto posted a 55 per cent rise in half-year earnings but shares fell 29p to 5150p amid weakness in the mining sector.
Ferrexpo, the FTSE's leading faller, slipped almost 9 per cent or 23.5p to 244.5p, while Kazakhmys shed 47p to 1311p as the duo - both with major Russian interests - fell on political tensions in the region.
Oil-facing firms were initially on weaker ground thanks to crude prices falling below $113 but concerns over the potential impact of Hurricane Gustav in the Gulf of Mexico pushed the price back up to nearly $117 by the close.
This helped the likes of BG Group, which slipped 27p to 1164p, make up some ground lost earlier.
Lloyds TSB was the chief casualty in the financial sector, down 7.5p at 292p. Royal Bank of Scotland was also off 3p to 217.75p as fears over the health of US financial stocks lingered after another bank failure on Friday.
The best FTSE performer was property group Liberty International, which gained 5 per cent, or 50.5p to 995.5p, after shopping centre owner Westfield revealed a near-3 per cent stake in the company.
It was closely followed by advertising and media giant WPP, which continued its advances after Friday's interim results with a gain of 15p to 506.6p.
Winners: Liberty International up 50.5p to 995.5p, WPP ahead 15p at 506.5p, First Group up 12.5p at 593.5p and Next ahead 21p to 1043p.
Losers: Ferrexpo down 23.5p to 244.5p, Enterprise Inns off 19.25p at 321.5p, Rexam down 14.5p to 386p and Johnson Matthey off 55p at 1530p.
© Independent Television News Limited 2008. All rights reserved.
These news feeds are provided by an independent third party and Channel 4 is not responsible or liable to you for the same.
