FTSE remains below 5000 barrier

Top flight shares stayed below the 5000 barrier today as concern about high oil prices eclipsed relief at the Bank of England’s decision to freeze interest rates.

The FTSE 100 Index remained in the red throughout the session, closing 34 points off at 4962.1.

The Bank of England’s Monetary Policy Committee provided support to the London markets by deciding to keep UK interest rates on hold at 4.75%.

Biggest risers included Tate & Lyle, up 17.75p to 534.75p, Morrisons gaining 4.75p to 222.5p, Tesco lifting 5.75p to 314.5p and Intercontinental Hotels adding 11.5p to 676.5p.

Largest losers were Xstrata, down 30.5p to 1046p, Antofagasta shedding 38p to 1332p, Rio Tinto weakening 49p to 1790p and Anglo American off 31p at 1256p.