U.K. shares down on pending news from U.S. housing market

Source: Dukascopy Bank SA
U.K. equities declined on Wednesday as investors were looking for news from U.S. housing market. The FTSE 100 Index lost 0.6%, or 33.16 points, to 6,360.54, close to its highest value since 2008. Only two out of ten industries included in the index increased. Basic materials and health care industries added 0.5% and 0.3%, respectively. TUI Travel Plc surged 2.8% on expectations that profit will grow by 10% in 2013. Furthermore, Weir Group PLC jumped 1.7%, capping losses in oil and gas sectors. Rio Tinto PLC, a British metals and mining corporation, followed with a 1.3% rise to close at 3,121.50 pence, after receiving an "equal-weight" rating from Morgan Stanley. On the downside, telecommunications and industrial sectors lost the most, declining 2.3% and 1.1%. Prudential PLC, an insurance company, plunged 4.1% to 1,053 pence, as it was fined £30 million by regulators over its 2010 bid to buy an Asian subsidiary of U.S. insurer AIG. Smiths Group PLC plummeted 3.2% to trade at 1,227 pence. Aviva PLC followed with a 2.5% decline to close at 296 pence.

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