Chris Beauchamp, chief market analyst at IG, stated: “Given the swathe of ex-dividend names today it is not surprising that the FTSE 100 continues to struggle.
“A recovery in the pound against the dollar has also hampered the index, putting it on the back foot against other indices that have shown signs of strength.”
Sterling benefited from a cautious greenback to rise greater however impacted buying and selling in UK-listed multinational companies.
The pound was up 0.86% to 1.254 US {dollars} and had gained 0.12% to 1.163 euros at market shut in London.
Elsewhere in Europe , the opposite major markets have been greater on the finish of buying and selling regardless of the eurozone falling right into a recession after its economic system contracted by 0.1% over the quarter to March, in accordance with Eurostat.
Germany’s Dax index rose by 0.18% and the Cac 40 closed up 0.27%.
In the US, markets edged greater at first of buying and selling, regardless of shock over the newest rate of interest hike by the Bank of Canada, as weaker US jobless claims strengthened the case for a possible pause to price rises stateside.
In firm news, shares in transport large FirstGroup shot greater after the agency stated it expects to maintain outcomes on monitor over the 12 months forward regardless of ongoing rail strike motion and being stripped of its TransPennine Express franchise by the Government.
The bus and rail agency stated it expects “broadly consistent” earnings from its trains enterprise within the 12 months to subsequent March and for its group outcomes to be in step with expectations.
The group completed buying and selling up 16.5p at 135.2p on Thursday.
Housebuilder Crest Nicholson was one of many day’s weakest performers after it reported shrinking gross sales and income amid “rapidly” falling client confidence and rising borrowing prices.
The Surrey-based firm stated income fell by greater than a fifth to £282.7 million within the six months to the tip of April because of the unsure financial backdrop.
Shares have been down 17.8p to 231.6p on the shut.
Investors in development agency Galliford Try have been extra optimistic after it declared a 12p-per-share particular dividend for the 12 months to June, because it is because of obtain a £26 million cost after settling a contract dispute.
Galliford Try shares have been up 14.6p at 200p because of this.
The value of oil additionally fell, with a barrel of Brent crude falling by 3.4% to 74.30 US {dollars} on the time markets have been closing in London.
The largest risers on the FTSE 100 have been Hargreaves Lansdown, up 25.8p to 857.6p, Entain, up 18p to 1,297p, Antofagasta, up 14.5p to 1,461.5p, Airtel Africa, up 1.2p to 128p, and BAE Systems, up 8.2p to 938.8p.
The largest fallers on the FTSE 100 have been Vodafone, down 4.33p to 74.15p, Sainsbury’s, down 10.5p to 267.5p, WPP, down 21.6p to 865p, Johnson Matthey, down 39p to 1,758p, and Endeavour Mining, down 40p to 2,042p.
