The FTSE 100 Index slipped below the 5,600 mark in early trading today asdealers waited for key economic indicator, the UK Retail Price Index to giveclues on future price trends.
Down 9.2 points to 5291.7, the market saw several companies take an earlytumble, following a mild fall on Wall Street yesterday.
The British Retail Consortium said sales in the shops in January increasedby the highest percentage for more than a year. The improvements were largelytrailed with gains in the sector yesterday, and the news failed to sparkshares.
Outdoor sports group Blacks Leisure decamped 1p down to 455p after biggerinitial falls. Boots fell 10p to 895p and Kingfisher stalled 5p to 990p.
The only gainer was Dixons, which edged up 5p to 515p.
Gas group BOC, which today announced the strong pound and poor results fromits healthcare business had created a 9% slip in first quarter profits, deflated36p to 935p.
Meanwhile, soap and ice cream giant Unilever fell 3p to 519p after itsresults which saw pre-tax profits rise 78% to £4.7 bn.
Rival Reckitt & Coleman also took a tumble, falling 20p to 986p.
The banking sector made an edgy start to the day, with dealers all waiting forthe annual reporting season to get underway on Friday, when Lloyds TSBannounces.
The group itself edged 1p up to 859p, while rivals Barclays took a slightfall of 7p to £19.18. NatWest Bank stayed steady at yesterday’s £11.56.
Far East linked HSBC fell back 4p to £16.75 and Standard Chartered dropped 7pto 685p amid unimpressive gains yesterday in Hong Kong and Japan.
A major deal for aero engines maker Rolls-Royce potentially worth £98 m,took the company up 1p to 205p.
PA News 10/02/98
