UK stocks slide on weak Eurozone's data

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Source: Dukascopy Bank SA
UK shares are trading lower on Wednesday amid high risk-aversion in the markets ahead of the key ECB meeting due on Thursday. Adding to the negative mood of the UK stocks, Eurozone's retail sales contacted by 0.2% in July. The FTSE 100 Index lost 0.26% to trade at 5,657.38. Six out of ten sectors within the index posted gains. The top-performers were health care and industrial sectors. Smith & Nephew advanced by 1.74% while IMI and Meggitt rose by 1.48% and 0.38%. At the same time, telecommunication and oil and gas companies sent the UK stocks lower. BT Group slumped 2.81% on news that US Department of Justice accused the company of gross negligence regarding the Deepwater Horizon disaster. Vodafone lost 0.90% after Bernstein lowered its stock rating from ‘outperform' to ‘market perform'. On the downside was also Imperial Tobacco, losing 1.71% amid speculation that France may increase cigarette prices.

 

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Wed, 05 Sep 2012 18:01:29 GMT

Crude oil depreciated ahead of ECB meeting

Crude oil futures turned red on Wednesday, as investors worried about weak Eurozone's fundamentals and following the yesterday's U.S. manufacturing report. Crude oil for October settlement inched lower 0.75 per cent to $94.60 per barrel. In the meanwhile, Brent oil futures with October contract lost 0.8 per cent to trade at $113.28 per barrel.

Wed, 05 Sep 2012 16:00:29 GMT

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