FTSE fails to hold gains

The London market was unable to hold onto early gains today as it slipped back into the red.

The FTSE 100 Index had climbed throughout the day as a range of sectors gained ground.

But traders had warned that light volumes and a lack of corporate news meant conditions were far from stable.

And as the session wore on, blue-chip shares began to drift and the FTSE 100 Index closed down 4.1 points at 4364.8.

A mixed start on Wall Street added to the subdued mood.

The tech-heavy Nasdaq was ahead by London’s close but the Dow Jones Industrial Average had dipped into negative territory, despite initially charging forward.