FTSE 100 eases up; defensive stocks led gains

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Source: Dukascopy Bank SA
© Scanpix/AFP
UK stocks inched up on better-than-expected business climate data from Germany. However, gains were limited as uncertainty over Greek bailout persisted. The FTSE 100 Index added 0.1% to trade at 5,796.82. Six out of ten sectors within the index advanced. Defensive stocks led gains, with health care and consumer goods sectors rallying 0.31% and 0.33%. AstraZeneca and GlaxoSmithKline climbed 0.42% and 0.15%, while SABMiller and Diageo added 0.8% and 0.69%. At the same time, telecommunication and basic materials sectors dragged the UK stock index lower. BT Group and Vodafone Group dropped 0.36% and 0.47%. Among miners, Rio Tinto, Kazakhmys and Vedanta Resources shed 0.85%, 0.79% and 0.56%. Meanwhile, Glencore and Xstrata continued to move higher after the EU regulators approved their merger. Shares of Glencore and Xstrata climbed 0.69% and 1.08%.


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