FTSE 100 closes lower due to mixed economic data

GMT 02:48 2015 Saturday ,15 August

Arab Today, arab today FTSE 100 closes lower due to mixed economic data

FTSE 100 closes lower
London - XINHUA

FTSE 100 Index, Britain's benchmark stock market gauge, edged down 0.27 percent, or 17.59 points, to 6550.74, on Friday as some of the economic data released disappointed.

Eurostat on Friday announced that the eurozone's gross domestic product increased 0.3 percent quarter-on-quarter and 1.2 percent year-on-year, short of forecasts for a 0.4-percent and 1.3-percent rise respectively.

Data also showed that eurozone inflation fell 0.6 percent on the month in July but rose 0.2 percent year-on-year, which were in line with analysts' forecasts.

In the United States, the University of Michigan's consumer sentiment index declined slightly in August to a reading of 92.9 in August from 93.1 in July.

On the same day, the Greek parliament approved a draft third bailout of around 85 billion euros (95 billion U.S. dollars), thus the country was able to avoid debt default and keep its member seat in the economic bloc.

Commodities trader Glencore's share price dropped by 2.23 percent, topping the losers of the blue chips.

Share prices of Smiths Group, Weir Group, Shire and ARM Holdings declined by 1.83 percent, 1.62 percent, 1.52 percent and 1.36 percent respectively.

TUI AG led the top gainers of the blue chips with a share price increase of 4.31 percent, followed by Hikma Pharmaceuticals (2.52 percent), St. James's Place (1.87 percent), Barratt Developments (1.79 percent) and Taylor Wimpey (1.79 percent).

Trading volume in FTSE 100 companies was 20 percent smaller than its 30-day average. And the index has gained 2.81 percent so far this year.

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