U.K. stocks down on Eurozone's recession woes

Source: Dukascopy Bank SA
U.K. equities declined on Thursday, as the ECB President Mario Draghi said the Euro area's economic recovery may be at risk. In addition, the U.S. jobless benefit claims increased in March. The FTSE 100 Index lost 1% to 6,353.33 points, the biggest two-day decline in nearly five months. Only sector posting gains was basic materials that added 0.5%. Vedanta Resources Plc. surged 6.9% to 1,079 pence, recovering from the biggest monthly plunge since May. Eurasian Natural Resources Corp Plc. climbed 5.7% to 237 pence, even though analysts at Credit Suisse cut the company's target price on shares. AMEC Plc. followed with a 2.9%  jump to trade at 1,110 pence, as the company's first-quarter report showed results matching expectations. The oil and gas services provider has recently signed a contract with BP to construct and engineer two new oil platforms. Meanwhile, ITV Plc., a British media company, dropped 3.8% to 124.2 pence. Reed Elsevier Plc. followed with a slump of 3.7% to finish at 760 pence. Randgold Resources Ltd slid 3.2% to 5,205 pence.

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