London close: FTSE edges higher to new record close

26th Feb 2015 16:48

London's FTSE 100 managed to inch higher to a new record high on Thursday as improving economic data across Europe and positive developments in Ukraine boosted markets after a slow start.The UK benchmark index finished the day up 14.35 points at a new closing high of 6,949.73, up 0.2% on the day and just 0.1 points ahead of the previous all-time closing high reached on Tuesday.Spanish economic growth was confirmed at 0.7% for the fourth quarter while UK economy expanded by 0.5%, with both figures in line with preliminary estimates. Another report showed German unemployment fell 20,000 in February, more than the 10,000 decline that was expected.Reports from Ukraine also lifted sentiment after the defence ministry said that it was starting the withdrawal of heavy weapons from battle-zones in the east following the ceasefire which came into effect earlier this month. Pro-Russian rebels have also reportedly claimed that they were withdrawing weapons.Wall Street markets, however, were less positive with the Dow Jones and S&P 500 indices edging lower after a mixed batch of US economic data. US consumer-price inflation turned negative for the first time since 2009; US jobless claims unexpectedly jumped last week; while US durable goods rose more than expected in January.StanChart and housebuilders provide a liftStandard Chartered rose after appointing former JPMorgan boss Bill Winters as its new chief executive as it confirmed current head Peter Sands will step down in June. The bank also announced that chairman John Peace will step down in 2016.Housebuilders were also performing well by the end of the day, including Persimmon, Barratt Developments and Taylor Wimpey.Leading the downside was Anglo-Dutch information group Reed Elsevier as investors gave a cool reaction to plans to combine its two parent companies and rename itself RELX Group. The company also said underlying adjusted operating profit rose 5% to £1.74bn in 2014.RBS dropped after missing forecasts with its 2014 results, reporting a loss of £3.5bn for the year, though this was still better than the £9bn loss recorded in 2013. The bank also confirmed the appointment of Sir Howard Davies as its new chairman.RSA Insurance recommenced its dividend as it returned to an annual profit in 2014, though it didn't earn as much as some analysts were hoping for. The insurer also said its chief financial officer is stepping down.Cigarette maker British American Tobacco was higher after reporting a less-than-expected 8.4% fall in 2014 revenue to £13.97bn, compared with the consensus forecast of £13.89bn.Capita was weaker as the outsourcing and business services giant underwhelmed with a 13% rise in underling pre-tax profit to £535.7m last year. Market MoverstechMARK 3,166.04 +0.50%FTSE 100 6,949.73 +0.21%FTSE 250 17,249.80 +0.36%FTSE 100 - RisersStandard Chartered (STAN) 976.00p +5.37%Persimmon (PSN) 1,758.00p +4.39%Kingfisher (KGF) 360.30p +3.21%Randgold Resources Ltd. (RRS) 5,170.00p +2.48%Meggitt (MGGT) 553.00p +2.22%Barratt Developments (BDEV) 516.00p +2.18%SABMiller (SAB) 3,713.00p +2.16%Tesco (TSCO) 246.00p +2.12%Taylor Wimpey (TW.) 144.40p +2.12%Weir Group (WEIR) 1,734.00p +2.00%FTSE 100 - FallersReed Elsevier (REL) 1,130.00p -4.80%RSA Insurance Group (RSA) 429.10p -4.71%easyJet (EZJ) 1,732.00p -4.47%Royal Bank of Scotland Group (RBS) 386.60p -4.14%Centrica (CNA) 245.60p -2.15%Severn Trent (SVT) 2,027.00p -1.84%Direct Line Insurance Group (DLG) 326.00p -1.81%BG Group (BG.) 970.00p -1.52%BHP Billiton (BLT) 1,615.50p -1.49%SSE (SSE) 1,562.00p -1.45%FTSE 250 - RisersRPS Group (RPS) 270.70p +12.32%Interserve (IRV) 614.00p +10.23%Countrywide (CWD) 541.50p +5.97%Ladbrokes (LAD) 121.00p +5.95%Domino's Pizza Group (DOM) 730.00p +5.42%Playtech (PTEC) 777.00p +5.28%Synthomer (SYNT) 283.20p +4.62%Keller Group (KLR) 1,013.00p +4.22%Vedanta Resources (VED) 601.50p +3.62%Howden Joinery Group (HWDN) 455.00p +3.50%FTSE 250 - FallersBeazley (BEZ) 292.00p -8.03%AO World (AO.) 182.00p -5.21%Telecom Plus (TEP) 1,051.00p -4.37%Premier Oil (PMO) 167.30p -3.80%Spire Healthcare Group (SPI) 315.00p -3.37%Enterprise Inns (ETI) 104.70p -3.06%Cairn Energy (CNE) 200.40p -2.95%Bwin.party Digital Entertainment (BPTY) 82.90p -2.87%Afren (AFR) 9.62p -2.83%Dignity (DTY) 1,901.00p -2.76%