Jan 26, 2017
Sage and Unilever lead FTSE 100 lower
Shares in accountancy software specialist Sage tumbled 5.4% to 599p following poor sales in its US payments business which it may now sell. Royal Bank of Scotland retained its place as one of the best performers on Thursday when its shares rose 2.3% to 232.9p. The bank, which is 72% owned by the taxpayer, has set aside an extra $3.8bn to settle fines related to the sale of financial products linked sub-prime mortgages in the US. The UK market posted modest gains, with Royal Bank of Scotland leading the way despite it setting aside more money to deal with US litigation. Diageo shares rose more than 4% after the company - whose brands include Johnnie Walker Scotch and Smirnoff vodka - reported a better-than-expected 4.4% rise in sales for the half-year to 31 December. Whitbread shares fell 4.9% after the company reported disappointing trading at the London branches of its Premier Inn hotels business. The results overshadowed better figures from its Costa Coffee chain, where like-for-like sales grew by 4.3%. On the currency markets, the pound fell 0.4% against the dollar to $1.2580 and was 0.3% lower against the euro at 1.1722 euros.
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