Shares retreat as slide on trading dents confidence

THE London market ended lower for the fifth session in a row yesterday, after a slide on Wall Street dented confidence.

By the close of trading the FTSE 100 Index was down 16.2 points at 4032.4, and erasing all its earlier gains when it surged above the 4100 level.

The market was boosted earlier yesterday by rises in banking and oil stocks, while the European Central Bank’s decision to shave a half percentage point from interest rates in the eurozone also lifted traders’ spirits in the City.