FTSE weakens on anxiety ahead of new Greek audit

BRITAIN’S top shares ended lower after a choppy session yesterday, with investors nervous ahead of an audit of Greece's finances to determine whether it has done enough to secure a new batch of aid.

Integrated oils helped limit the FTSE 100’s losses, with BG Group up 3.4 per cent, grabbing the top spot on the leader board, boosted by a Goldman Sachs upgrade to “conviction buy” and bid speculation.

The UK benchmark closed down 1.4 per cent, at 5,217.63, after rallying four per cent on Tuesday, its biggest one-day gain in 16 months. The index is down nearly 12 per cent on the year.

A troika audit team from the European Union, European Central Bank and IMF will begin talks in Athens on today on Greece’s plan to deepen budget cuts and raise new taxes.

Hedge fund manager Man Group was the biggest faller down almost 25 per cent in heavy volume after reporting a surge in client outflows.