UK shares sink ahead of EU summit

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Source: Dukascopy Bank SA
© Scanpix/Reuters
UK equities halted an upward trend on Thursday despite encouraging figures from China. China's GDP expanded in line with market expectations while Chinese industrial production and retail sales beat forecast last month. Meanwhile, investors awaited the results of a two-day EU summit that stared today. The FTSE 100 Index lost 0.19% to trade at 5,899.85. Five out of ten sectors within the index climbed. The top-performers were telecommunication firms and basic material producers. Vodafone Group jumped 0.77% while BHP Billiton and Rio Tinto added 0.57% and 1.22%. Financials were also bullish, with HSBC and Barclays inching up by 0.33% and 0.39%. Dragging the UK stock index lower, retailers and health care firms dropped 0.96% and 0.40%. Next shed 0.33% while GlaxoSmithKline and Shire tumbled by 1.16% and 0.80%.


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Thu, 18 Oct 2012 17:44:30 GMT

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