FTSE 100 Reverses Gain to Fall in Last Hour; ITV Shares Advanceby
Britain’s shares fell in the last half hour of trading to retreat for a second session.
ITV Plc jumped 2.9 percent, the most since October, after Mail on Sunday said Comcast Corp. is weighing an 11 billion pound ($16 billion) takeover bid for the company. Glencore Plc rose 2.7 percent after Citigroup Inc. raised its 2015, 2016 and 2017 earnings targets for the miner.
Associated British Foods Plc fell 2.7 percent after RBC Capital Markets downgraded the stock to underperform, the equivalent of a sell rating.
The FTSE 100 Index fell 0.3 percent to 6,034.84, reversing an earlier gain of as much as 1 percent. The benchmark is heading for a 8.1 percent decline this year. The volume of shares changing hands was 26 percent lower than the 30-day average. The FTSE All-Share Index retreated 0.3 percent while Ireland’s ISEQ Index lost 0.5 percent.