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Quantitative easing sparks concern on quiet day.

Byline: FTSE 100 ANNABEL BREAKEY Brewin Dolphin

THE FTSE 100 Index lost ground on Wednesday, closing down 19.9 points at 6551.5.

There was little significant news so investors continued to worry over the Federal Reserve's decision to reduce quantitative easing and when in fact this would occur.

Strategas Research said: "Policy uncertainty has historically translated into greater volatility and after their recent good run equities look tired."

One firm beating the downward trend was Anglo American following the announcement it had agreed revised terms for the sale of Amapa, its iron ore operation in Brazil.

Anglo American has agreed to sell 100% of Amapa to Zamin Ferrous Ltd, a private international mining group that has been operating in Brazil since 2005, for an initial consideration of approximately $136m.

The shares closed up 2.1%. Shares in energy companies came under pressure as Ed Milliband announced on Tuesday that he would freeze energy prices if elected in 2015. Sir Roger Carr, chairman of Centrica, said the policy was "potentially a recipe for economic ruin", and the company claimed "it would simply not be economically viable for Centrica, or indeed any other energy supplier, to continue to operate" if prices were controlled against a backdrop of rising costs.

Centrica's share price lost 21.1p to close down at 375.6p.

It was a relatively quiet day within The Journal North 40 Index.

GlaxoSmithKline did however announce that the European Commission has granted an additional indication for Revolade as a treatment for low platelet counts in adult patients with chronic hepatitis C infection.

The share price fell to close at 1596p.

annabel.breakey@brewin.co.uk
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Title Annotation:Business
Publication:The Journal (Newcastle, England)
Geographic Code:3BRAZ
Date:Sep 26, 2013
Words:275
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