Newspaper article The Journal (Newcastle, England)

FTSE 100 Loses Ground as US Index Soars; FTSE 100

Newspaper article The Journal (Newcastle, England)

FTSE 100 Loses Ground as US Index Soars; FTSE 100

Article excerpt

Byline: THOMAS SMITH Brewin Dolphin

WITH little economic news flow, the FTSE 100 lost ground particularly towards the later part of the day, to close down 36 points at 6523. The weak performance of the UK's leading index came, despite the strength of the US S&P 500 Index, which closed on Monday at another record high.

During the session the Office for National Statistics reported that the UK's gap between imports and exports narrowed in October. The UK trade deficit declined to PS9.7bn, compared with PS10.1bn in September.

Within the index, Prudential was one of the biggest risers of the day, after the insurer announced that it remains on track to double its new business profits from Asia. Its shares closed up 1.7%.

Whitbread, owner of Costa Coffee and Premier Inn, lost ground after a trading update which met consensus forecasts. Costa saw like-for-like sales increase 4.9%. The coffee chain has added 246 new stores worldwide this year. …

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