Headline shares closed with firm losses, as ex-dividend factors and the report of increased unemployment took their toll, with investor sentiment further dented by Wall Street turning weaker. At the close of business, the FTSE100 was down 60.26 points at 5,723.43 with the FTSE250 off 18.44 points at 10,469.15 and the FTSE Smallcaps 5.64 points higher at 2,972.69. US stocks turned slightly lower in late morning trade, with Apple's stellar numbers unable to stave off doubts about the wider economy. Approaching the close in London, the Dow Jones Industrial Average was down 3 points at 11,114, the S&P500 fell 3 points at 1,204 and the Nasdaq Composite lost 7 points at 2,494.
LONDON MARKETS
A mixed reading on unemployment data and a lengthy list of companies turning ex-dividend added to the general unease in London today. The easing of travel restrictions in the wake of the Icelandic volcano eruption provided the travel and leisure industry with a temporary boost this morning, but the euphoria soon evaporated as investors sought to assess the costs of the chaos. After an early jump, British Airways (LON:BAY) settled 0.4p lower at 232.5p, although no-frills rival Easyjet (LON:EZJ) gained 4.5p at 484p on news it was to re-commence its normal flight schedules. Holiday operators reacted in mixed fashion, with Tui Travel Plc (LON:TT.) down 0.3p at 288.9p, but Thomas Cook Group Plc (LON:TCG) even at 260.4p. InterContinental Hotel Group managed to maintain upward momentum, 8p better at 1,054p.
Chipmaker ARM Holdings was top of the leaderboard, gaining on the read across from news of soaring profits at iPhone maker Apple. ARM shares jumped 7.5p at 250.5p.
Supermarket operators were also in demand, with Tesco's ambitious expansion plans pleasing the market. Tesco (LON:TSCO) rose 7.05p at 438.05p, while rivals Morrisons and Sainsbury added 3.6p at 298p and 2.3p at 347.5p, respectively. Commercial software house Autonomy edged up a penny at 1,782p, after reporting first quarter revenues of $194.2m, marginally ahead of analysts' consensus of $193m, and up 50% from Q1 2009.
Commercial property companies were wanted as mall specialist Liberty Plc (LON:LBE) International said a lack of new shopping centres being planned gives it an opportunity to raise rents and increase occupancy rates. Liberty Plc (LON:LBE) shares rose 4.5p at 519p, while Segro Plc (LON:SGRO) added 1.4p at 322p, Land Securities Group…
