UK equities plunge after weak national data

Source: Dukascopy Bank SA
© Scanpix/AFP
UK stocks are trading sharply lower on Friday after the UK GDP growth for Q3 for revised down from 1% to 0.9%. Moreover, the national deficit widened to GBP17.5 billion, excluding government's aid for banks, while experts predicted the deficit to reach GBP16 billion in Q3. Adding to the negative mood of the index, UK consumer confidence retreated from 18-month high in December. The FTSE 100 Index dipped 0.88% to trade at 5,905.81. All but one sectors tanked. Utility sector was the only gainer, with United Utilities and National Grid climbing 1.41% and 0.21%. Carnival managed to add 2.63% despite a recent report showing an annual fall in profits of 43% in the last quarter. At the same time, technology firms and banks created the heaviest pressure on the UK blue chips. Among technology stocks, Sage Group slid 1.28%. Lenders remained under pressure after the BoE increased capital requirements for banks. Shares of Barclays, Royal Bank of Scotland Group and Lloyds Banking Group tumbled 2.57%, 2.39% and 2.05%, respectively.
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