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FTSE creeps up, miners drop amid economic jitters
Markets
by Chris Marshall on Mar 01, 2013 at 08:38
Lloyds (LLOY.L) dropped 2.7% to 53p after the 40% state-owned bank reported a £570 million loss for 2012, thanks in part to annual payments for the mis-selling of PPI reaching £3.57 billion.
Shares in WPP (WPP.L) rose 2.5% to 1,080p after the advertising group beat expectations to report 2.9% like for like revenue growth in 2012. The group remains concerned about the economic backdrop though, warning ‘continued caution’ are its watchwords.
William Hill (WMH.L) was the top riser on the FTSE 250, with shares up nearly 5% to 424p after the bookmaker announced it would tap shareholders for a £375 million rights issue in order to buy out partner Playtech. The news came alongside in-line final results for 2012 showing pre-tax profits of £293 million.
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