Afternoon Markets: RBS recovers as Shire leads losses

A slightly better day for Royal Bank of Scotland (RBS) as it entered the top five index performers, while BAE systems and Shire both lead the days losses.

A slightly more subdued day for the FTSE 100 but it could not avoid entering the ninth consecutive day of losses, led by Shire and BAE systems.

The index recovered from an afternoon slump to finish about 0.07% lower than when the market opened – a marked improvement on the rest of the week but another day of declines nonetheless.

Shire’s fortunes reversed on yesterday’s gains as it posted the worst decline of the day. Share prices dropped 2.39% to 1,962.00.

BAE systems fell by 2.03% to reach 251.40, Inmarsat by 1.96% to 389.30, National Grid by 1.90% to 620.00 and RDS ’B’ by 1.86% to 2138.50.

IMI enjoyed the biggest gain of the day, as prices rose 5.50% to reach 719.00 per share. Shortly behind were Investec, which saw gains of 4.52% push prices to 332.80, Fresnillo gained 4.42% to reach 1,605.00, International Consol Air rose 4.41% to reach 139.70 and Royal Bank of Scotland recovered from yesterday with a 3.63% rise to 17.97.