FTSE among 11 other European benchmarks posting losses

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Source: Dukascopy Bank SA
© scanpix/AFP
European shares dropped from their highest level in 18 months, after Ben S. Bernanke's announced that a budget deal is needed to avert the "the fiscal cliff". Experts expressed opinion that interest rates have already been lowered and more monetary stimulus would only have marginal effect.

The U.K. FTSE decreased 0.12%, or 7.29 points to 5,938.73, being one from 11 Western European markets where the benchmarks inched lower. All but one sector declined with Telecommunications being the only sector advancing. Tulow Oil was the company climbing the most, even though Credit Suisse Group downgraded its rating from "outperform" to "normal". Meanwhile, sectors that shrank the most were Health Care, Technology and Industrials by losing 1.56%, 0.83% and 0.72%, respectively. Among companies posting the biggest decline were John Wood Group, AstraZaneca and Evraz by erasing 3.97%, 3.24% and 2.92%, subsequently.


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