London shares traded cautiously on Tuesday, ahead of the Bank of England’s interest rates decision.
The uncertain mood was increased by Monday’s public holiday in the US, since the index has recently been following Wall Street slavishly.
By mid-afternoon, the FTSE-100 Index of leading shares edged off 14.9 points to 6360 with few major movers. Further down the scale there was equally little movement, though the FTSE-250 index stood 12.7 points lower by 3pm at 6160.5.
A major sale by Dresdner Kleinwort Benson of Williams shares after the company’s half-year results saw Williams’ share price tumble 29p to 348p.
Elsewhere in the sector, Vickers’ shares were ahead 1p at 184.5p following recent results and steel stockholder Richardsons Westgarth was up 13p at 60.5p after it announced it had received another bid approach.
IMI was ahead 2.75p at 330.75p, despite a host of `buy’ notices from brokers after its half-year figures were released.
Other engineers reporting this week included Charter, down 20p at 365p after it admitted trading conditions during the first six months of the year had been difficult. Brokers downgraded full-year forecasts by about 10% on the half-year figures.
Analysts were broadly satisfied with BBA’s results and the company’s shares advanced 4.5p to 520.5p.
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