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FTSE100: 6,566.09 +19.09 (0.29%)

FTSE100 suffers worst December for 12 years

Stock MarketWed (close): London stocks ended the year on an upbeat note after yesterday’s plunge, though the FTSE100 suffered its worst December since 2002.

The leading index has lost 2.6% of its value this month and is almost 3% lower than at the start of 2014.

But trading was light in the half-day session.

“With numerous countries enjoying bank holidays today and the likes of the FTSE closing just after midday, traders have seen a lethargic market struggle to move into second gear,” said analyst Alastair McCaig from IG.

Despite the upturn, uncertainty surrounding the future of Greek politics and ongoing falls in the price of oil weighed on stocks.

There was also confirmation that manufacturing activity in China declined in December for the first time in seven months.

Housebuilding and property stocks performed well,  including Taylor Wimpey, CRH, Hammerson, Barratt Developments, Bovis Homes and Land Securities.

Heading the other way were stocks in the energy sector as Brent crude futures moved lower by over 3% to $56.11 a barrel. Tullow Oil and Shell were among the heaviest fallers.

 

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