FTSE runs out of steam

The FTSE 100 Index ran out of steam today as investors paused for breath in the face of mixed economic news on both sides of the Atlantic.

Wall Street had a lacklustre early trade after disappointing consumer data, while in London a smaller decline than first feared in UK output between April and June was tempered by figures casting doubts over the impact of the Bank of England’s efforts to boost the money supply and aid the economy.