Market lower on profit taking; Craneware high
Mon: The market came off a few points as Wall Street anticipates a rate rise and traders took profits leaving the FTSE 100 down 42 points at 6,311.74.
The prospect of a Fed interest rate rise boosted some stocks, including Aberdeen Asset Management, Standard Chartered, Barclays and HSBC.
The biggest faller was InterContinental Hotels, after it dampened Friday speculation that it is considering a potential sale or merger of the company.
Temporary power provider Aggreko also racked up healthy gains as it maintained its full-year profit expectations despite a challenging market backdrop and a fall in third quarter sales.
TalkTalk, which was hit by a cyberattack last month, was downgraded by HSBC to ‘hold’ from ‘buy’ and the price target was slashed to 260p from 430p.
Among smaller caps, Edinburgh based medical software company Craneware rose 10% in early trade, touching 779p, before closing 6.64% higher at 762.5p, a record high.