UK equities little changed amid global growth concerns

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Source: Dukascopy Bank SA
FTSE gained 0.01% on Monday to trade at 5,847.89 despite signs of deepening global recession. On Monday, Japan reported slower than expected GDP growth pace in Q2. At the same time, speculation that the ECB is ready to take measures to ease economic slowdown in the Eurozone spurred UK stocks. The largest gainers among industries were financial and consumer services companies. Barclays, Standard Chartered and Lloyds Banking Group advanced by 0.82, 1.62% and 0.19%, respectively.  Standard Chartered discussed a settlement amount to resolve the issue concerning violation of US money-laundering law. Barclays rose after news that the bank's CEO will undertake top-to-bottom review of Barclays' operations. Health care and basic materials firms dragged German DAX Index lower. Smith & Nephew slid by 0.08% while BHP Billiton, Anglo American and Rexam slumped 0.55%, 0.07% and 0.83%, respectively.

 

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Mon, 13 Aug 2012 15:32:28 GMT

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