FTSE falls on weak results

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Trader in LondonImage source, Getty Images

(Close): A rebound in gold-related stocks was outweighed by lacklustre corporate results, with the FTSE 100 index falling 19.62 points to 6,769.07.

Shares in gold miners had slid on Monday after the price of the precious metal fell sharply to a five-year low.

However, the gold price steadied on Tuesday, and mining shares recovered with Fresnillo up 3.66% and Randgold Resources 1.99% higher.

Royal Mail shares dipped 1.5p to 510p after its latest trading update.

The company said revenues were flat in the three months to 28 June as UK letter volumes continued to decline.

In the FTSE 250, shares in AO World jumped 3.2% after the online retailer of household appliances such as fridges and washing machines said UK revenues grew 6.5% in the three months to 30 June.

It also said it had seen a "strong" start to trading in July, and was "encouraged by the indications of growth in housing transactions and disposable income in the broader market".

PZ Cussons fell 0.75% after the company reported a 32% fall in full-year profits to £84m, with trading being hit by problems in Nigeria, its largest market,

"Within Africa and our largest market Nigeria, disruption in the north, the Ebola outbreak, presidential elections and a significant currency devaluation have all contributed to a very difficult operating environment," the company said.

On the currency markets, the pound fell 0.1% against the dollar to $1.555 and dropped 0.99% against the euro at €1.4232.