The FTSE 100 Index staged a mini-retreat today as investors took profits after yesterday’s strong run.
Financial stocks, which had driven the FTSE to a one-month high last night, were the main casualties as the top flight index eased 11.8 points to 4,503.8 in the first hour of trading.
Those on the way down included Royal Bank of Scotland, which was off 13p at 1,717p, while Barclays slipped 3.5p to 504.5p.
Alliance & Leicester was another faller, down 22p at 887p despite unveiling annual profits at the top end of market expectations.
Results from second-tier transport company Go-Ahead drew a warmer response as shares lifted almost 4% on the back of a 43% rise in half-yearly profits.
The company, which also sounded an upbeat note about long-term prospects, surged to the top of the FTSE 250 Index risers board with a gain of 40.5p to 1,184.5p.
Elsewhere, Manchester United shares lost some of their recent strength, slipping 8.5p to 261p in the first hour of business.
And medical staffing company Reed Health lost almost a quarter of its market value after warning that half-year profits would be below expectations. Shares slumped 21.5p to 70p.
References: EGi News 20/02/04
