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FTSE falls away at the week's end.

Byline: Fergus Westwood

'THE UK stock market gave up Thursday's gains yesterday as the FTSE 100 Index closed the week's final session 64 points down at 5990.6. It was the release of employment figures in the US (non-farm payrolls), which showed that only 18,000 jobs were created last month, that led to the market fall.

The non-farm payroll figure was far lower than analysts had expected.

Companies in defensive industrial sectors were the strongest performers.

AB Foods topped the headline index's leader board but the tobacco giants BAT and Imperial also featured, along with pharmaceutical companies GlaxoSmithKline and Shire.

The day's heaviest faller was BSkyB, the satellite broadcaster, as fears grew that the scandal affecting News Corp (owner of the News of the World) may detrimentally affect its attempt to take over BSkyB.

The shares fell a further 7.6% yesterday and closed at 750p.

Mining companies were also weak, with Antofagasta, Vedanta, Kazakhmys and Eurasian among the day's top 10 losers as shares in each lost at least 3%.

In The Journal North Index Southern Cross, the care home operator, was the strongest performer. Shares in the company, which has been forced to renegotiate rent payments with its landlords, closed the session 3.3% higher at 6.25p.

There were no announcements from the company.

The region's housebuilders, Bellway and Barratt Developments, were in focus after competitor firm Bovis stated that it would hit its targets if the market remained stable.

Shares in Bellway and Barratt were down by 2.3% and 2.5% respectively.
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Title Annotation:Business
Publication:The Journal (Newcastle, England)
Date:Jul 9, 2011
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