- Ukraine and Russia conflict escalates
- Israel sends more troops in Gaza
- US consumer confidence falls unexpectedly
techMARK 2,803.78 +0.17%
FTSE 100 6,749.45 +0.17%
FTSE 250 15,556.84 +0.02%
UK stocks finished up slightly after falling earlier amid geopolitical tensions following the crash of a Malaysia Airlines plane in eastern Ukraine.
Ukraine and Russia blamed one another over the shooting down the aircraft which killed 298 people on board.
Ukraine's state security service said it intercepted phone conversations among pro-Russian rebels discussing the missile strike. Rebel leaders denied any involvement and claimed a Ukrainian air force jet had brought down the Boeing 777.
The incident came after the US imposed further sanctions against Russia in an effort to curb the Ukraine turmoil.
In Gaza, Israel intensified its land offensive in the area with artillery, tanks and gunboats. Palestinian health officials said 27 Palestinians had been killed since Israel sent ground forces into the strip on Thursday.
Market Analyst Craig Erlam from Alpari UK said: "What I think is preventing any significant sell-off is the uncertainty around what comes next."
In other news, the President of the St Louis Fed James Bullard said that the central bank may have to move sooner than expected to raise interest rates on the back of an improvement in economic data. "If macroeconomic conditions continue to improve at the current pace, the normalisation process may need to begin sooner rather than later," he said yesterday.
Elsewhere in the US, the University of Michigan released its consumer confidence index which fell to 81.20 in July from 82.5, surprising analysts that expected it to rise to 83.
ITV, Shire rally
ITV continued to extend gains after a big jump yesterday as investors continued to react to bid speculation following the purchase of a 6.4% stake in the broadcaster by Liberty Global.
US drug company AbbVie is taking over Shire in a deal valuing the UK group at £32bn, the pair said on Friday, causing shares
in the latter to rise.
AbbVie has agreed to offer £53.19 a share for Shire, representing a premium of about 53% to the Shire share price of £34.67 on May 2nd, which was the last day before AbbVie made the first of its five offers for Shire.
Housebuilder Barratt Developments was leading the fallers after Liberum downgraded the stock to 'hold' and slashed its target price from 468p to 387p.
GKN, which supplies British multinational automotive and aerospace components, declined as airliners were hurt by news of the Malaysia Airlines crash in Ukraine which killed 298.
Banks such as RBS, Barclays, Lloyds and HSBC were all lower after the Competition & Markets Authority (CMA) said that British banks' personal current accounts and small business banking were "not working well for customers". The CMA said it had provisionally decided to consult on plans for "a joined up in-depth market investigation" into the industry.
FTSE 100 - Risers
Shire Plc (SHP) 4,996.00p +3.95%
ITV (ITV) 202.50p +3.79%
British Land Co (BLND) 718.00p +2.43%
British Sky Broadcasting Group (BSY) 917.50p +2.23%
Severn Trent (SVT) 1,926.00p +2.12%
Whitbread (WTB) 4,313.00p +1.82%
Ashtead Group (AHT) 923.00p +1.76%
Pearson (PSON) 1,128.00p +1.71%
Capita (CPI) 1,151.00p +1.59%
SABMiller (SAB) 3,393.00p +1.59%
FTSE 100 - Fallers
GKN (GKN) 348.60p -1.61%
Royal Bank of Scotland Group (RBS) 319.20p -1.39%
Hargreaves Lansdown (HL.) 1,101.00p -1.26%
London Stock Exchange Group (LSE) 1,926.00p -1.23%
Associated British Foods (ABF) 2,842.00p -1.18%
Intertek Group (ITRK) 2,640.00p -0.98%
Prudential (PRU) 1,372.00p -0.94%
Meggitt (MGGT) 541.50p -0.91%
Schroders (SDR) 2,435.00p -0.90%
Admiral Group (ADM) 1,537.00p -0.84%
FTSE 250 - Risers
Carphone Warehouse Group (CPW) 318.00p +4.95%
Dixons Retail (DXNS) 49.30p +4.47%
Bwin.party Digital Entertainment (BPTY) 86.85p +2.84%
Inmarsat (ISAT) 771.00p +2.39%
Greencore Group (GNC) 279.40p +2.38%
RPC Group (RPC) 593.50p +2.33%
Just Retirement Group (JRG) 142.80p +2.15%
Centamin (DI) (CEY) 72.05p +2.13%
Homeserve (HSV) 309.40p +2.11%
Spirent Communications (SPT) 99.25p +2.06%
FTSE 250 - Fallers
ITE Group (ITE) 215.00p -4.83%
Genus (GNS) 1,040.00p -4.24%
Renishaw (RSW) 1,510.00p -4.13%
AO World (AO.) 220.00p -3.93%
COLT Group SA (COLT) 135.00p -3.57%
Ocado Group (OCDO) 376.70p -3.51%
Ophir Energy (OPHR) 194.50p -3.23%
Catlin Group Ltd. (CGL) 532.00p -2.39%
Ferrexpo (FXPO) 135.50p -1.74%
Big Yellow Group (BYG) 521.00p -1.70%
FTSE TechMARK - Risers
Dialight (DIA) 895.00p +1.82%
Gresham Computing (GHT) 128.00p +1.49%
Ricardo (RCDO) 645.00p +1.18%
KCOM Group (KCOM) 96.00p +0.79%
Anite (AIE) 91.50p +0.55%
Phoenix IT Group (PNX) 95.25p +0.26%
Consort Medical (CSRT) 963.00p +0.26%
FTSE TechMARK - Fallers
Filtronic (FTC) 23.50p -2.08%
Torotrak (TRK) 19.12p -1.92%
NCC Group (NCC) 192.50p -1.53%
SDL (SDL) 337.00p -1.46%
DRS Data & Research Services (DRS) 17.75p -1.39%
Skyepharma (SKP) 256.25p -1.06%
RM (RM.) 169.00p -0.88%
E2V Technologies (E2V) 156.25p -0.79%
BATM Advanced Communications Ltd. (BVC) 17.50p -0.71%
Optos (OPTS) 184.75p -0.67%