UK stocks dropped after China's data

Source: Dukascopy Bank SA
UK stocks dropped on dismal China's trade data and persistent worries over the Eurozone's economy. However, UK equities were supported by speculation that the country's economy may have contracted less than previously estimated due to smaller drop in construction. FTSE 100 Index slid 0.3% to trade at 5,839.49 at the time of writing. Eight out of ten industries included in the index plunged. The only gainers were financials and telecommunications. Barclays and HSBC advanced by 2.54% and 0.34% while BT and Vodafone added 0.55% and 0.11%. Barclays announced late on Thursday that David Walker will be appointed as a new chairman. On the downside were technology, heath care and utilities. Sage Group, Smith & Nephew and Centrica fell 0.4%, 0.67% and 0.56%, respectively. Miners also moved lower on China's data; Rio Tinto and Kazakhmys slid 0.48% and 0.67%.

 

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