Business

FTSE 100 dips as Royal Mail falls

Market trader (file picture) Image copyright Getty Images

(Close): London's leading shares have closed for the week with Royal Mail having a yo yo day.

The stock shed 3.6% in early trading because of worries over forthcoming pay talks but recovered some of that loss to close 1.8% lower at 471.90p

The FTSE 100 ended the day down 29 points, or 0.47%, at 6146.05.

Another big loser was supermarket chain Sainsbury's, which dropped 2.2% as investors delivered their verdict on its deal to buy Home Retail Group.

Miners were amongst the top five stocks that saw falls and included Glencore, Antofagasta and Fresnillo.

On the currency markets, the pound was down 1.11% against the dollar at $1.4201 and was 1.09% lower against the euro at €1.2486.