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Tue close: Greece tips FTSE into a fall

Ongoing fears about Greece sent shares 1.4% lower, with Easyjet leading the fallers following a cautious outlook.

Election euphoria was absent from trading floors as the FTSE 100 ended the session down 96.05 points, or 1.37%, at 6,933.80.

Greek 10-year bond yields, rose 13 basis points to 10.69% amid reports that the International Monetary Fund does not want to participate in a third bailout for the country.

The news came after Greek finance minister Yanis Varoufakis warned the country could run out of cash in “the next couple of weeks”.

Domestic concerns turned to the UK referendum on the EU after David Cameron said the vote could be brought forward 12 months to next year.

Among corporates,  the budget airline Easyjet suffered after warning that profits will be impacted by the strike action in France.
Mining stocks held up well despite declines on the wider market as a weaker US dollar lifted metal prices across the board. Fresnillo, Antofagasta, Randgold Resources, Anglo American and BHP Billiton.

Credit-checking outfit Experian jumped after returning to organic revenue growth in the fourth quarter. For the full year, total revenue from continuing activities grew 1% to $4.81bn, with profit before tax slightly above flat at $751m.

Lloyds Banking Group rose after the government sold a further £500m-worth of shares, taking its stake below 20%.

 

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