FTSE 100 incurs further losses

<p>The FTSE 100 has incurred further losses amid fears US leaders will not reach a fiscal cliff deal. </p>

The FTSE 100 was down this morning (December 31st) as talks between US policymakers regarding the so-called fiscal cliff near the end of the road.

London traders remained nervous as the year in which the benchmark index has risen six per cent and moved in line with wider political worries draws to a close.

The start of the final day of 2012 saw the benchmark index slip a further 24 points to 5,901.48, with only 13 constituents rising or staying the same during opening trade.

Broadcaster ITV was down 1.2 per cent at 105 pence per unit as traders took profits from its gain of around 50 per cent over the last 12 months.

Resource and financial stocks led the losses as traders across international markets ignored risk as negotiations over the fiscal cliff continue among US lawmakers.

Speaking to the Financial Times, James Hyerczyk – analyst at Autochartist – said: "Expectations were for the index to hold a retracement zone at 5,939.00 to 5,925.31, but downside momentum was too strong and this area failed."

The FTSE 100 has gained ground as internet shoppers set new Boxing Day records.

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