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Centrica dividend cut hits FTSE 100 | |
(about 5 hours later) | |
(Close): Shares in Centrica fell sharply after it reported a big fall in profits and slashed its dividend. | |
Profits at the British Gas owner sank 35% and it cuts its full-year dividend by 21%, sending shares in Centrica down by more than 8%. | Profits at the British Gas owner sank 35% and it cuts its full-year dividend by 21%, sending shares in Centrica down by more than 8%. |
In a lacklustre day of trading, the FTSE 100 index ended down 9 points at 6,888.9. | |
Markets across Europe rebounded on hopes of a solution in the Greek debt talks. | Markets across Europe rebounded on hopes of a solution in the Greek debt talks. |
It was confirmed on Thursday that Greece has asked the eurozone for a loan extension after weeks of wrangling over its international bailout. | It was confirmed on Thursday that Greece has asked the eurozone for a loan extension after weeks of wrangling over its international bailout. |
Although the request was met favourably by the European Commission, Germany objected to it. | |
Shares in defence company BAE Systems edged up 0.7% after it said there were signs that cuts to defence spending in the US had bottomed out. Operating profit rose from £806m to £1.3bn last year, but sales fell to £16.6bn from £18.1bn. | |
Sports Direct shares rose 0.7% after the sporting goods retailer reported a 7.6% rise in gross profit to £346.9m for the 13 weeks to 25 January. | |
However, the retailer added that its Austrian business had suffered from a "weak winter sports season". | However, the retailer added that its Austrian business had suffered from a "weak winter sports season". |
News that drinks can maker Rexam had accepted a £4.4bn takeover offer from US rival Ball Corp sent its shares up 4.7%. | |
Rexam is Europe's largest drinks can maker, employing about 8,000 people in 55 manufacturing sites across 20 countries. | Rexam is Europe's largest drinks can maker, employing about 8,000 people in 55 manufacturing sites across 20 countries. |
On the currency markets, the pound was flat against the dollar to $1.5455 and climbed 0.14% against the euro to €1.3563. |