Market round-up: Consumer confidence, Greece weigh on FTSE

Debenhams Posts Higher Sales and Profits — Retailer Debenhams warned Thursday that consumer confidence is waning during government cuts.

After modest gains over the past few days the FTSE slipped Thursday following rejected solutions on both sides of the Greek debt issue.

High Street retailer Debenhams was on the up as it looks like it will make its profit forecasts, but the company warned that consumers are cautious about spending. The impact of government spending cuts is dampening consumer confidence, according to analysts at AJ Bell.

Investors saw a surprising bounce in shares of troubled oil firm Afren, even chairman Egbert Imomoh and four non-executive directors stepped town today at the company's AGM.

The market pulled back from gains earlier in the week to fall -0.54% and close at 6,807.82p.

"No clear reason for the latest turnaround has emerged although one theory which is gaining traction is that the stock is being snapped up by those who want to block debt restructuring plans," said AJ Bell Investment Director Russ Mould.

Shares of Trapoil tumbled after it was reported that its Niobe exploration well in the North Sea will be abandoned after tests of the well's viability came up empty handed.

FTSE 100 biggest risers