THE UK'S FTSE 100 eased off eight month highs yesterday after strong jobs data raised the spectre of interest rate hikes and analysts highlighted concerns about companies' ' weak earnings and high valuations. Data showed the unemployment rate dropped to 7.1 per cent in the three months to November, below even the most optimistic analyst forecast and just a decimal point above the threshold where the Bank of England has said it may think about raising interest rates. The FTSE 100 share index, meanwhile, closed down 7.93 points, or 0.1 per cent, at 6,826.33 points, holding around 40 points below Tuesday's eight month high and lagging euro zone's EuroStoxx 50. Royal Bank of Scotland fell 3.1 per cent after UBS downgraded the stock to "sell" from "neutral". Shares in William Hill, which issued a trading update last week, suffered after HSBC cut its price target to 350 pence , which was below current levels. Brewing giant SABMILLER fell for a second day after Tuesday's disappointing sales figures.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?