Newspaper article The Journal (Newcastle, England)

Market Sees Tuesday's Gains Slip Away

Newspaper article The Journal (Newcastle, England)

Market Sees Tuesday's Gains Slip Away

Article excerpt

Byline: Fergus Westwood

THE UK stock market gave up Tuesday's gains yesterday as the FTSE lost 61.4 points and ended the session at 5928.6.

The headline index's leader board was topped by G4S, whose shares rose by 1.8%, after a positive broker note on the support services group. Property companies were among the stronger performers with both Hammerson and Land Securities in the day's top ten risers. Shares in Fresnillo, the silver mining company also rose, adding 1.4%.

Wolseley, the builders merchant, was in focus after the company reported results for the third quarter that featured improvements in gross margins across all regions. The company delivered sales growth of 6%, which was slightly lower than the previous quarter, and the trading profit increased by 31%. The company was boosted by improved performance in its US, Nordic and French operations, but its underlying sales growth in the UK dropped from 8% to 1% in the third quarter. …

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