Business

Retailers sag as FTSE 100 slides

Traders in London Image copyright AFP

London's stock market dipped at the finish on Tuesday after spending the day in positive territory.

The benchmark FTSE 100 ended the day down 11.05 points or 0.15% at 7,485.29.

Retailers Kingfisher and Marks and Spencer, which are both due to issue statements on Wednesday, were among those worst hit.

Kingfisher, which will put out a trading update, was the biggest loser, falling 2.4%, while M&S, which is to unveil full-year results, shed 2%.

Babcock was the biggest riser in the FTSE 100 on positive broker sentiment.

Shares in the support services group climbed 3% after Deutsche Bank issued a note suggesting the company's stock could rebound when it publishes results on Wednesday.

Severn Trent shares rose 1.8% after it said underlying pre-tax profits rose 4.3% to £525m, helped by fewer leaks following an investment programme.

On the currency markets, the pound was flat against the dollar to $1.3003 and was up 0.16% against the euro to 1.1585 euros.