U.K. equities down on concerns about European economic outlook

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Source: Dukascopy Bank SA
U.K. shares decreased on fears that Cyprus financial problems can reignite the Eurozone's debt crisis. The FTSE 100 lost 0.46%, or 33.51 points, to 6,459.67. Seven out of ten sectors included in the index posted losses. Meanwhile, telecommunications sector gained 0.98%, while consumer services group was 0.1% up. Marks & Spencer Group Plc surged 7.4% to 400 pence, as Qatar Investment Authority plans to make a £8bn takeover bid for the retailer company. Tate & Lyle Plc., a British-based multinational agribusiness, followed with a 2.3% surge to trade at 836 pence. Furthermore, Croda International Plc gained 1.44% to 2,672 pence. Meanwhile, Eurasian Natural Resources Corp Plc plunged 7.7% on concerns that the company may write down $1bn this week. Financial sector declined as European banking system is under pressure on vague prospects for Cyprus economy. The Royal Bank of Scotland Group Plc lost 4% to 296 pence. The company's stock has been decreasing since February 27.

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Tue, 19 Mar 2013 07:27:13 GMT

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