Inmarsat leads FTSE 100 lower
(Close): Shares in London closed with modest losses, but the FTSE 100 ended above the lowest levels for the day.
The FTSE 100 closed 0.3% lower at 6,136, having fallen to 6,122 earlier.
The biggest faller was satellite operator Inmarsat. Shares fell 4% after analysts at Morgan Stanley cut their rating of the company's shares.
Earlier this year it issued a profit warning and shares have fallen by more than 30% this year, leaving the firm facing relegation from the FTSE 100.
Sports Direct was one of the biggest losers on the FTSE 250. Shares slumped 4% after Goldman Sachs changed its view on its shares from buy to neutral.
Shares in the insurer Legal and General fell 0.2% after it agreed to buy a £3bn annuity portfolio from Dutch rival Aegon.
The Dutch firm is gradually pulling out of the UK in order to focus on other parts of its business.