Stock Market Overview: FTSE ends below 6,000

Stock Market Overview: FTSE ends below 6,000 : Footsie fell back below 6,000 in the first day’s trading after Christmas. A strong performance from mining companies, particularly those involved in gold, was not enough to offset a decline in banks. RBS was the biggest faller on worries about the European debt crisis. Next fell even though there have been positive comments about trading on the High Street. FTSE 100 fell 13 points to 5,996.

14.15: Footsie fell below 5,980 at one point early this afternoon but it is heading back towards 6,000. Shares in BG remain lower on the day but they have perked up since the announcement that its partner Petroleo Brasileiro has filed the Declaration of Commerciality (DoC) for the accumulations of light oil and gas in the Tupi and Iracema areas. This marks the start of the production phase for the fields. FTSE 100 down 12 at 5,997.

11.45: Footsie has slipped below 6,000 this morning. Shell has lost some of its earlier gains. BT, Burberry, Experian and Alliance Trust have all gone ex-dividend. RBS and Lloyds remain lower but have started to edge up again. FTSE 100 down 13 at 5,996.

1030: Early gains have given way to mild falls, but trading volumes are small as are the movements either way. Gold miners African Barrick and Randgold continue to benefit from safe haven buying while RBS, Lloyds and Smith & Nephew are the worst performers as eurozone issues persist. Smith & Nephew was warned over production methods at a German factory yesterday. FTSE 100 down 5 at 6,003.

0900: London has made a predictably slow start, with only a handful of City folk back at work today. Randgold Resources tops the risers so far, alongside chip designer ARM and security specialist GFS. Banks are weak, with both Royal Bank of Scotland and Lloyds Banking under pressure. Vodafone is also off the pace. FTSE 100 up 5 at 6,015. For the latest updates PRESS CTR + D or visit Stock Market news Today

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