AFTER a strong early performance, the FTSE's gains evaporated as investors turned negative and began selling stock.
Having been ahead almost 16 points, the 100 index fell back to stand down 17.2 on the day at 3747.0 by the close of dealing.
Latest retail sales figures made little impact on the London stock market. The data for April was slightly weaker than expected, helping to underpin for a while at least the market's early rise, caused by Wall Street's strong overnight performance.
Storehouse, the BHS and Mothercare group, announced annual figures and chief executive Keith Edelman cautioned against a strong upturn in consumer spending in the coming months. The results contained few surprises and the shares slipped back 7p to 327p.
Cable & Wireless reported annual figures at the top end of City expectations.
Even so, there was little demand for the stock and the telecoms group which earlier this month called off merger talks with HT, shed 13p to 446p. The City is convinced there is now no possibility for merger talks to be revived. BT itself was down 5p to 2861/2p.
In contrast, specialist chemicals and fibres group Courtaulds was extremely popular after results on Wednesday and a forecast of better times ahead. The stock raced 16p higher to 438p.
