FTSE clings on to 2016 high, despite poor results from Burberry and Persimmon

 
Jake Cordell
Follow Jake
Burberry's warning of a
Burberry's warning of a "challenging" year ahead saw it plunge towards the bottom of the FTSE 100 (Source: Getty)

It went down, then up, then did it all again, but the FTSE 100 managed to cling on to its 2016 high day in a confusing day of trading, closing at 6,363 - up 0.01 per cent.

Despite the tiny move higher, the biggest stories came from the losers. Housebuilder Persimmon was on shaky foundations at its annual general meeting (AGM) today, where the company threw everything but the kitchen sink to ensure non-executive director Nigel Mills won a shareholder vote to be appointed. It didn't survive the day intact, however, as it shed six per cent to 1,900p.

14 April 2016 @ 4:30pmFTSE 100 (UKX)

On a sunny day in London, it was perhaps unsurprising that trenchcoat maker Burberry also let down investors. It told the market a "challenging" 12 months lay ahead as revenues dropped by one per cent in the six months to March. Its share price dropped by more - off 3.6 per cent to 1,296p.

Takeover rumours at ITV, which could be lining up to buy Peppa Pig makers, Entertainment One, pushed the media group up 1.4 per cent to close the day at 243p - one of the biggest climbers of the day.

The pound slipped back, yet again, against the dollar, falling 0.44 per cent to $1.4142, as the Bank of England's Monetary Policy Committee voted nine-nil to keep interest rates on hold and said sterling was set for a bumpy ride in the run-up to the Brexit referendum.

Related articles