UK stocks slightly drop as U.S.central banker suggests further monetary stimulus

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Source: Dukascopy Bank SA
UK shares stayed flat, as U.S. central banker suggested to continue taking monetary stimulus measures to boost the nation's economy. The latter offset shrinking business confidence in December. The FTSE 100 index erased 0.1%, or 3.76 points, to 6,117.82. All but three sectors contracted in the gauge. Schroders gained 2.8%, the most in the index, leading gains in the financial shares that added 0.31%. Furthermore, the shares of Eurasian Natural Resources Corp. climbed 2.6% to 330.9 pence after its stock was upgraded to outperform from neutral by Credit Suisse Group AG, as the latter said that the outlook for 2012-14 of  the mining company has improved. The company's shares triggered a 0.1% gain in the basic materials group. Meanwhile, Kazakhmys Plc. declined 2.6%, capping further increase in the basic materials stocks. John Wood Group, in turn, dropped 2.2% and led losses in the oil and gas sector that was 0.17% down. Furthermore, Associated British Foods lost 1.8% and prompted a 0.4% decrease in the consumer services group.


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