Business

Easyjet rises as FTSE 100 dips

London stock brokers (file photo) Image copyright AFP

(Close): London's main share index dipped in late afternoon trading, with airline Easyjet bucking the downward trend thanks to a broker upgrade.

At the close, the FTSE 100 was down 0.18%, or 10.89 points, at 6,114.81.

Shares in Easyjet, which reports results on Tuesday, went up 3.8% after RBC raised its rating to outperform.

But the index was dragged down by mining stocks, which made up the entire list of the top five biggest losers. Anglo American fared worst, down 13.8%.

Outside the main index, iPhone supplier Imagination Technologies jumped 11.3% after news that a Chinese conglomerate acquired a stake in the chip maker.

The state-backed Tsinghua Unigroup took a 3% stake in Imagination, in a move likely to reignite takeover speculation around the UK tech firm, analysts at Investec said.

Meanwhile, shares in security firm G4S added 4.8% after it reported a rise in revenues.

G4S, the world's biggest security firm, reported a 4.5% increase in revenues in the first quarter to £1.5bn after it continued to wind down loss-making contracts.

On the currency markets, the pound fell 0.19% against the dollar to $1.4402 and fell 0.2% against the euro to €1.2631.