UK shares drop amid uncertainty over Spain's next bailout

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Source: Dukascopy Bank SA

UK shares tumbled amid persistent uncertainty over whether Spain will apply for full scale bailout. Adding to the negative mood of the UK stocks, France and Germany failed to agree on timeframe of banking union introduction. The FTSE 100 Index lost 0.57% and is trading at 5,819.23. Only two in ten sectors within the index advanced. The top-gainer was health care sector, with Smith & Nephew adding 0.66%. Dragging the UK stock index lower, basic materials and technology shares dropped 2.24% and 1.24%. Anglo American, BHP Billiton and Croda International tumbled 3.46%, 1.61% and 1.07%, respectively. Among technology firms, Sage Group slid 2.31%. Lenders also followed downward trend. Barclays, HSBC and Royal Bank of Scotland sank 2.01%, 0.43% and 2.18%, respectively.

 

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