FTSE 100 falls as Royal Mail shares drop

The London market was trading lower by Friday lunchtime, with Royal Mail and housebuilders seeing some of the biggest falls. The FTSE 100 share index was down 8.92 points at 7,394.52. Separately, analysts at Liberum reiterated their "Sell" rating on Royal Mail and cut their target price for the shares to 385p. Housebuilders were out of favour, with shares in Barratt Developments down 1.9% and Persimmon 1.3% lower. Shares in AstraZeneca fell nearly 3.5% on Thursday and they were down a further 1% on Friday. In the FTSE 250, shares in building and services firm Carillion rose 8% after it said it had appointed HSBC as joint financial adviser and corporate broker to help it carry out a review of the business.

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