THE London market lost out to profit-takers today after the FTSE 100 Index set a 13-month high during a positive start to the week on Monday.
Despite more upbeat figures in the United States, including a strong third quarter result from technology firm Apple, the Footsie slipped 16.7 points to 5264.8 in the first hour of trading.
Barclays was among the biggest fallers, off 4% or 16.65p to 365.4p, after Qatari shareholders cashed in £1.3 billion of share options but maintained their overall stake in the bank.
The portfolio-tidying exercise fuelled excitement in Sainsbury’s, which has been the subject of speculation that the Qataris will make a bid for the supermarket. Sainsbury’s gained 4% or 12.1p to 342.2p.
Other fallers in a lacklustre session included technology firm Autonomy, which dropped 8% or 126p to 1469p after its third quarter update missed expectations.
Elsewhere, shares in Greggs were off more than 4% after it announced plans for a major expansion drive. The high street baker wants 600 new shops, but warned this will cost an additional £60 million or more in capital expenditure.
Greggs shares were also unsettled by a trading update which showed a slowing in sales growth in recent weeks.