20/11/14 Market Movements

Market News

The FTSE 100 closed down 17.70 points at 6,678.90.

Johnston Matthey was the biggest climber of the day, climbing 6.00% after raising its full year profit forecast and announcing interim profits of £216.4 million. The improvement came from higher sales of catalysts for cars in Europe and Asia as tougher rules to combat pollution aided the British Company.

Rio Tinto was the biggest faller, closing down 2.62% after announcing that its dividend growth may slow down next year unless the recent demise of Iron Ore prices turns around. Rio Tinto, who derive approximately 80% of its underlying profits from iron ore, have been hit hard by the slump which has seen a 48% drop in the price of Iron Ore this year.