Newspaper article The Journal (Newcastle, England)

FTSE 100 Index Edges Fractionally Higher; FTSE 100

Newspaper article The Journal (Newcastle, England)

FTSE 100 Index Edges Fractionally Higher; FTSE 100

Article excerpt

Byline: LUCINDA BEAUMONT Brewin Dolphin

THE FTSE 100 edged fractionally higher on Thursday, ending the day up 0.6 of a point at 6589.

In the US, the number of workers applying for jobless benefits fell sharply but a government official cautioned the drop was largely due to faulty reporting by states. The US market edged lower on the back of this and in anticipation of the Federal Reserve's policy setting meeting next week.

Back in the UK, the government announced its intention to proceed with an initial public offering of Royal Mail. 10% of the company is to be made available for free to around 150,000 eligible UK-based Royal Mail employees and the rest will be offered to institutional investors and members of the public.

Engineering firm Kier Group released preliminary results that were in line with expectations representing a good performance in tough trading conditions. The shares were down 1.3% following the result. Also in the sector, engineering and project management group Amec confirmed that it doesn't intend to make an offer for Kentz. …

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