Market round-up: Topsy-turvy week leaves FTSE 100 stagnant

London Stock Exchange — The FTSE 100 ended the week with investors not knowing where to hedge their bets Reuters

The FTSE 100 stagnated on 14 August after a week that saw some gains but also much uncertainty about the Chinese economy, which left investors unsure about where to turn.

"It has been a fairly topsy-turvy week for European bourses, with issues around Greece and the global economy contributing to market uncertainty," said AJ Bell investment director Russ Mould. On 11 and 12 August, the Chinese yuan saw its largest two-day drop in value since 1994.

"In the UK, Coca-Cola Hellenic Bottling led the blue-chip fallers as profit takers appear to have taken advantage of gains made earlier in the week on the back of an upbeat set of numbers, with a mix of oil producers, insurers, pharmaceutical and some retail stocks also easing," Mould said. The FTSE 100 edged down -0.27% on 14 August to finish the week at 6,550.74p.

After an all-night debate, Greek MPs chose to back the bailout plan for the country, which will ease the debt crisis with a €86bn (£61.1bn, $95.6bn) lifeline. It will prevent Greece from defaulting on debt payment it owes the European Central Bank next week. Meanwhile, mining firm Glencore again topped the list of the market's biggest fallers, losing -2.23% of its value.