UK stocks drop despite successful Spanish debt auction

Note: This section contains information in English only.
Source: Dukascopy Bank SA

UK shares declined on Thursday on weak data from China. HSBC China PMI edged up in September but remained below 50.0 level that separates contraction from expansion. Raising global growth worries, Japanese trade balance dropped more than expected last month. However, Spain's borrowing costs slid at the auction of 10-year sovereign bonds, boosting market sentiment. The FTSE 100 Index retreated 0.59% and is trading at 5,829.57. Only three sectors within the index eased up. Telecommunication companies were the strongest, posting a 0.42% gain. Vodafone Group added 0.09%. At the same time, miners and industrials weighted down on the UK stock index. Anglo American dropped 4.62% amid unrest at its South African platinum mine. BHP Billion, Rio Tinto and Antofagasta tumbled 2.38%, 3.27% and 3.11%, respectively. Industrials plunged 1.79% on weak Eurozone members' manufacturing data releases. Shares of IMI, Rolls-Royce Holdings and BAE Systems declined 1.48%, 0.17%and 0.53%, respectively.


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