FTSE 100 down but above 5000

The London equities markets were down on Wednesday on a light volume of only 2.4 billion shares traded, but the FTSE 100 managed to remain above the 5000 level.

The FTSE 100 fell 0.4 percent to close at 5,003.7, while the FTSE 250 was down 0.2 percent to 7,227.3.

Urbium, the nightclub operator, was up 10.2 percent to 700p on confirmation that it has rejected a share-based takeover offer from Regent Inns, which lost 4.3 percent on the day to close at 77 ½ percent.

Ukbetting, an online gaming group was up 7.3 percent to 51 ¾p on takeover speculation.

BP rose 0.1 percent to 563p on the news that it’s petrochemicals and refining subsidiary has agreed to invest $2 billion in Saudi Arabia’s petrochemicals sector.

On the negative side, British American Tobacco lost 1.1 percent to £10.78 in anticipation of a Canadian lawsuit filed by British Columbia to try to secure C$10 billion to recover health care costs.

Retailer Kingfisher lost 1.9 percent to 254p after Home Depot ruled out a bid, while supermarket group Wm Morrison was down 2.3 percent to 182 ½p after a fifth warning on profits.

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