UK equities inch down; BG wieghts

Source: Dukascopy Bank SA
© Scanpix/AP
The FTSE 100 Index slumped 0.11% to trade at 5,843.55. An unexpected increase in the eurozone unemployment rate to 11.6% created heavy pressure on the UK blue chips. At the same time, a rebound in Asian stocks and upbeat quarterly results of the largest European airlines limited the downswing. All but one sectors within the index eased up. The top-gainers were telecommunications and consumer services. BT Group and Vodafone Group climbed 0.9% and 0.79% while Carnival and Whitbread rose 0.16% and 1.20%. Meanwhile, lenders were mixed. HSBC and Lloyds Banking Group added 0.62% and 0.49% while Barclays dropped 3.43%. Barclays posted a net loss for Q3 as revenues were hit by extra provisions for inappropriate selling of insurance. BG Group was the top-loser, plunging 19.41%. The third national producer of natural gas stated that its output is likely to increase only by 3% this year and remain unchanged in 2013.

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