Quiet end to City’s annus horribilis

BG Group rose 6p to 1376.5p after the energy firm flagged the start of the production phase for its Guara field, a further milestone in the development of the pre-salt Santos Basin offshore Brazil. Other blue-chip risers included supermarket Sainsbury, up 6.9p to 302.9p, and Morrison, 2.1p better at 326.2p.

However, the general retail sector remained largely on the back foot amid all the talk of pre‑Christmas price discounting and prior to of a slew of New Year trading updates from the high street.

Home Retail Group, owner of the Argos showroom catalogue business and DIY chain Homebase, fell 2.3p to 83.4p – taking its annual loss to 56 per cent. Cycles and motor maintenance company Halfords slipped 4.5p to 289p.

Meanwhile, shares in surfwear business Hot Tuna sunk 36 per cent to 0.075p – giving it a market value of just over £1.5 million – after it reported further heavy losses and said it planned to secure a buyer to rescue the brand in the new year.

Banking stocks were largely in the doldrums, having been some of the biggest fallers in 2011. Royal Bank of Scotland edged up 0.07p to 20.2p, while Lloyds rose 0.425p to 25.91p.

That compares with the taxpayer buy-in prices of 50p at RBS and 63p at Lloyds. RBS shares lost nearly 50 per cent in value over the year, with Lloyds shedding 61 per cent. HSBC fell 0.95p to 491.05p yesterday.

A good week continued yesterday for broadcaster ITV under Scots‑born chief executive Adam Crozier, as its shares gained 1.25p to close at 68.15p.

Two of the best share performers of 2011 were pharmaceuticals group Shire and fashion retailer Next, which recorded gains of 44 per cent and 37 per cent respectively.

NEW YORK After wild swings throughout the year, the S&P 500 ended the year where it started. Not since 1970 has the index had such a small full-year change. The Dow Jones industrial average was down 70.99 points, or 0.58 per cent, at 12,216.05, yesterday, making a gain of about 6 per cent for the full year.