31 December 2012 Last updated at 08:23 ET
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(Close): London’s leading shares fell in Monday trading, amid fears that budget talks would not stop the US sliding over the “fiscal cliff”.
In a truncated New Year’s Eve session, the benchmark FTSE 100 index dropped by 0.47%, or 27.56 points, to 5,897.81.
However, the index still ended the year nearly 6% higher, having fallen by 5.6% during 2011.
Engineering firm Melrose Industries did worst on the day, down 3.5%. Capital Shopping Centres Group shed 2.1%.
Leading the day’s winners, B&Q owner Kingfisher bucked the downward trend with a rise of 0.8%.
The broader-based FTSE 250 index had an even better year, notching up record annual gains of 22%.
The 250-share index is seen as more representative of the British economy as a whole, since it contains a greater proportion of firms that are actually based in the UK.
BBC News – Business
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