London Report: FTSE falls again as tensions in Ukraine make traders wary

THE UK’S top share index fell again yesterday after rebounding from two-week lows in the previous session, with updates from some companies disappointing investors and tensions over Ukraine weighing on sentiment.

Engineering turnaround specialist Melrose fell 7.8 per cent, the top decliner on the FTSE 100 index, after warning of challenging market conditions and saying sales growth in 2014 would not be easy to achieve.

Legal & General, a provider of life insurance and pensions, fell 1.9 per cent, with analysts flagging a small miss in operational profit, while Standard Chartered dropped 2.1 per cent after reporting its first drop in annual profits for a decade and saying its profits will remain “challenged” in the first half.

The FTSE 100 closed down 0.7 per cent at 6,775.42 points after rebounding 1.7 per cent in the previous session following a fall of 1.5 per cent on Monday on Ukraine tensions.

The index was also weighed down by five stocks, including BHP Billiton and Rio Tinto, going ex-dividend.