This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-32014998

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
FTSE 100 falls back from record FTSE 100 falls back from record
(about 3 hours later)
(Open): After closing at an all-time high on Friday, the FTSE 100 briefly set a new record before slipping back. (Noon): The FTSE 100 slipped back from record highs on Monday morning, while the pound fell to a three-week low against the euro.
The FTSE 100 had set a record close of 7,022.51 on Friday, and when trading began it edged up to a new intraday high of 7,027.33 before falling. After closing at an all-time high on Friday, the FTSE 100 briefly set a new intraday high of 7,027.33 before falling back.
In early morning trade the index was down 19.98 points at 7,002.53. In lunchtime trade, the index was down 7.34 points at 7,015.17.
Comments from brokers were behind some of the early moves. Cruise operator Carnival fell 1.9% after Deutsche Bank cuts its rating to "hold" from "buy". Worries over the general election outcome and the prospects for UK rate moves hit the value of the pound.
Engineering firm Meggitt was another company to fall foul of a broker downgrade. Its shares dropped 2.4% after Bernstein lowered its rating to "market perform" from "outperform". Sterling dropped more than a cent against the euro to €1.3693, while against the dollar the pound fell 0.3% to $1.4905.
But positive comments from Citi and JP Morgan helped to lift Standard Chartered. Shares in the bank rose 3.7%, making it the top performer in the FTSE 100. On the stock market, comments from analysts were behind some of the biggest moves. Cruise operator Carnival fell 2.2% after Deutsche Bank cut its rating to "hold" from "buy".
On the currency markets, the pound fell 0.7% against the dollar to $1.4847 and dropped 0.44% against the euro to €1.3760. Engineering firm Meggitt was another company to fall foul of a broker downgrade. Its shares dropped 1.8% after Bernstein lowered its rating to "market perform" from "outperform".
But positive comments from JP Morgan helped to lift Standard Chartered. Shares in the bank rose 6.9%, making it the top performer in the FTSE 100, after JP Morgan upgraded its rating on the shares to "overweight" from "neutral".
Shares in car spares and bike retailer Halfords fell 1% after it appointed a top executive from McDonald's, Jill McDonald, as its new chief executive. Ms McDonald will replace Matt Davies, who is leaving Halfords to head Tesco's UK business.