Little movement for FTSE

The wider FTSE 100 Index was virtually flat, down 1.3 points at 4277.2 after an uneventful session in New York.

British retailers were under pressure today after worse than expected sales declines in May.

Next, Argos owner Home Retail Group and B&Q firm Kingfisher were on the back foot after a surprise 0.6% sales volume decline over the month.

There was little in the way of major corporate news to drive sentiment, although remarks from Bank of England governor Mervyn King that the economy may have stabilised helped steady nerves in London.

The retail figures ensured a tricky session for many players in the sector however, with Next off 30p at 1432p, and Home Retail Group 6p lighter at 249.75p.

Kingfisher eased 3.5p to 177p, while in the second tier Currys owner DSG International fell 1.5p to 22.5p and Comet firm Kesa Electricals lost 5p to 109.25p.

Back in the top flight, the mining sector recovered some of its poise after heavy falls yesterday, with Eurasian Natural Resources up 7.5p at 631p and Xstrata ahead 13p to 656.5p.

Lloyds Banking Group gained 2.8p to 69.9p to take top spot on the risers' board after an upgrade from Macquarie. Royal Bank of Scotland also added 0.5p to 37.5p despite the broker cutting its rating on the same bank.

Among the supermarkets, Sainsbury's made back some ground after heavy falls yesterday following its surprise fundraising, adding 1.5p to 314.5p. Rival Morrisons was also up 1.5p to 242p.

On the corporate front, Cadbury shares were up 2p to 524p after it said it remained on course to meet revenues targets, helped by strong trading in the UK.

Pubs group Marston's was down 17% after it asked shareholders for £176m (€205.12m) to fund the acquisition of new pubs. Shares were off 23.25p at 117p.