Investors take profits after US rate rise
Fri: Investors took advantage of the mini Santa rally to book profits on Thursdays’s gains following the Federal Reserve’s decision to raise interest rates.
Confidence rose on the back of chairman Janet Yellen’s guidance as to future rises being gradual. That gave investors a boost and yesterday they creamed off profits ahead of the shortened Christmas week.
The FTSE 100 ended the session 50.12 points or 0.82% lower at 6,052.42 while the second-tier index dropped 71.41 points or 0.42% to 6,070.68.
BG fell back despite receiving approval from the US Federal Energy Regulatory Commission to construct and operate a natural gas liquefaction and export facility in Lake Charles, Louisiana.
Sports Direct was firmer after it put out a statement hitting back at allegations over working practices made in the Guardian last week and its promise hold a review.
GlaxoSmithKline was in focus after its HIV business reached a couple of deals with Bristol-Myers Squibb to acquire its late-stage HIV research and development assets as well as its portfolio of pre-clinical and discovery stage HIV research assets.