Market overview: FTSE closes down 42 points at 6,654
Friday 24 May 2013

1630: Close The FTSE ended the week on a downbeat note ahead of the Bank Holiday weekend as worries about the Fed scaling back its asset purchase programme prematurely weighed heavy. Leading the downside was ENRC having announced Thursday that it has suffered two potential losses of company data. In economic news, gross mortgage borrowing in the UK was little changed in April, according to figures from the BBA. The FTSE closed down 69 points on the week.

1518: Markets continue to trade lower after a poor start on Wall Street with airline IAG now providing a drag after one its jetliners carrying 75 passengers had to make an emergency landing at Heathrow. Video has shown that smoke coming from one of the plane’s engines. The plane was evacuated and no one has been reported as injured. The FTSE 100 is down 52 points at 6,645.

1506: Any bid for British water company Severn Trent would have to be pitched at 23 pounds per share or more to have any chance of success, top investors said after an approach for the company earlier this month.