LONDON MARKET CLOSE: Reckitt Benckiser Unable To Lift Subdued FTSE 100

LONDON (Alliance News) - The FTSE 100 got off to a muted start to the week with US markets closed on Monday, and gains for consumer goods giant Reckitt Benckiser unable to give the blue-chip index a boost.The FTSE 100 index closed down 17.21 points, or 0.2%, at 7,219.47. The FTSE 250 ended up 140.05 points, or 0.7%, at 19,127.28, and the AIM All-Share closed up 0.54 of a point, or 0.1%, at 908.13.The Cboe UK 100 ended down 0.3% at 12,254.82, the Cboe UK 250 closed up 0.5% at 16,993.82, and the Cboe Small Companies ended up 0.1% at 11,217.87."The FTSE failed to shake its excessively mild losses as the afternoon went on, the UK index just about dipping from last week's 4-month highs as it fell 0.1%. A smattering of red in the commodity and pharmaceutical sectors contributed to the FTSE's muted Monday, as did the pound's bland rebound," said Spreadex analyst Connor Campbell.The pound was quoted at USD1.2933 at the London equities close Monday, up compared to USD1.2855 at the close on Friday.Brexit talks will continue this week as UK Prime Minister Theresa May prepares to return to Brussels to gain concessions on her withdrawal deal.May will meet European Commission President Jean-Claude Juncker in the coming days, while Brexit Secretary Stephen Barclay will hold talks with the EU's chief negotiator Michel Barnier on Monday.The pair are expected to discuss the proposals of the Alternative Arrangements Working Group of Tories, who have been seeking a compromise solution to avoid the need for the controversial Irish backstop.Meanwhile, seven Labour MPs have quit the party in a major blow for leader Jeremy Corbyn. Luciana Berger, Chris Leslie, Angela Smith, Gavin Shuker, Mike Gapes, Ann Coffey and Chuka Umunna announced their decisions at a press conference in London on Monday.Simmering tensions within Labour ranks over Corbyn's approach to leaving the EU and the party leadership's handling of anti-Semitism allegations have prompted the schism.In European equities on Monday, the CAC 40 in Paris ended up 0.3%, while the DAX 30 in Frankfurt ended flat.The euro stood at USD1.1309 at the European equities close Monday, up compared to USD1.1270 at the same time on Friday.Markets in the US are closed on Monday for the Presidents' Day holiday, and will re-open on Tuesday.In commodities, Brent oil was quoted at USD66.50 a barrel at the London equities close Monday compared to USD65.98 late Friday.Gold was quoted at USD1,326.35 an ounce at the London equities close Monday against USD1,316.32 at the close on Friday.Ending as the best performer in the FTSE 100 on Monday was Nurofen painkiller maker Reckitt Benckiser, up 4.6% after reporting a robust final quarter of 2018.Group revenue for 2018 totalled GBP12.60 billion, up 10% from GBP11.45 billion. This compares to a consensus of GBP12.59 billion. Pretax profit for the year increased 8.8% to GBP2.72 billion.The company's 2018 like-for-like net revenue growth totalled 3%, equalling growth last year and ahead of the 2.7% market consensus. In the fourth quarter alone, group like-for-like sales grew 4%, ahead of consensus expectations of 3.3% and up from the 2.0% generated in the first nine months of the year.Educational publisher Pearson shed 1.3% after agreeing to sell its US K-12 courseware business for USD250 million in a "major milestone" for its simplification programme.The deal will see Pearson receive an initial USD25 million cash payment. The remaining USD225 million will be repaid over three to seven years through an unconditional vendor note.The firm added the sale is an "important part of our ongoing work to become a simpler and more efficient company, focused on fewer, bigger opportunities that contribute towards growth and our digital transformation".In the FTSE 250, JD Sports Fashion finished 3.9% higher after disclosing it has acquired an 8.3% interest in rival Footasylum for "investment purposes".The sports fashion retailer, which bought 8.7 million shares in Footasylum, added that it is prepared to acquire up to an aggregate interest of 29.9% in the company.JD, however, said it does not intend to make a takeover offer for Footasylum. Shares in Footasylum shot up 89% to 54.75 pence on Monday, though the AIM stock remains 74% lower compared to this time a year ago.Slumped at the other end of the index was online trading services provider Plus500, sinking 14% to 790p after Canaccord cut its price target on the stock to 546p from 1,052p previously. This comes after Plus500 last week issued a profit warning for 2019 and revealed drafting errors in its 2016 and 2017 accounts. The stock has tumbled 42% since the start of 2019.Elsewhere on the Main Market, McColl's Retail gained 13% as profit fell in a challenging year, but 2019 is expected to see a slight improvement.For the year ended November 25, the retailer posted a pretax profit of GBP7.9 million, down from GBP18.4 million a year ago. Revenue increased by 8.1% year-on-year to GBP1.24 billion from GBP1.15 billion.McColl's said it continues to expect earnings before interest, taxes, depreciation and amortisation for the financial year just begun to show a "modest improvement" on financial 2018's adjusted GBP35.0 million.On London's AIM market, floor coverings retailer Victoria ended down 15% after saying it expects to see a significant improvement in its annual earnings, despite margins taking a hit from a strategy to increase market share.Victoria expects Ebitda for the year ending March of between GBP95 million and GBP97 million. Last year, Ebitda was GBP64.7 million."In the group's interim results released in November, Victoria advised it was taking advantage of difficult market conditions to actively pursue market share. The board recognises this approach, which impacted earnings this year, has unsettled some shareholders but it believes it to be in the best long-term interests of the group and its shareholders," Victoria explained.In Tuesday's UK corporate calendar at annual results from Asia-focused lender HSBC Holdings at 0400 GMT, while later full-year numbers are due from Holiday Inn owner InterContinental Hotels Group and Bank of Georgia, while interim results are due from miner BHP Group.In the economic calendar on Tuesday is UK jobs data at 0930 GMT, including average earnings and the unemployment rate, while the German ZEW survey is at 1000 GMT and eurozone construction output due at the same time.In Japan on Tuesday, export and import data are at 2350 GMT.