FTSE 100 Still At Highest Level In A Week

LONDON (Reuters) – Britain’s top share index edged lower on Thursday, but remained around its highest level in a week, having completely rebounded from a substantial sell-off in light of the country’s vote to leave the EU.

Britain’s FTSE 100 <.FTSE> index was down 0.2 percent at 6,346.20 points by 0706 GMT. On Wednesday, the FTSE 100 had closed at its highest level since April, when it finished 3.6 percent higher at 6,360.06 points.

That close was above last Thursday’s final level of 6,338.10, posted before the FTSE then slumped as much as 8.7 percent at the start of trading on June 24 after Britain voted to leave the EU.

The mid-cap FTSE 250 <.FTMC> was flat, but remains down around 8 percent over the last week.

Royal Bank of Scotland <RBS.L>, down over 30 percent since the vote to leave the EU, fell another 3.7 percent on Thursday after it was cut to “equal weight” from “overweight” by Morgan Stanley.

However, 3i Group <III.L> rallied 6.5 percent after it said it had no plans to dispose of its investment in Dutch discount retailer Action despite a number of approaches.