FTSE slips back below 5000

The latest round of takeover action on the London market was not enough to lift the FTSE 100 Index into the black today.

Although investors cheered insurance giant Aviva’s proposed takeover of 108-year-old motoring organisation the RAC, the FTSE 100 Index lost early gains to end the day 14.8 points lower at 4996.1.

The highest Footsie risers today were ITV up 5.25p to 124.75p, Man Group rising 55p to 1470p, Aviva up 18.5p to 681p and mmO2 rising 2.5p to 125.5p.

The heaviest fallers were BAT off 37p to 931p, Royal Bank of Scotland down 54p to 1729p, Reuters off 11.75p to 416.5p and GUS down 21p to 909p.