UK equities plunge amid disappointing news from Asia

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Source: Dukascopy Bank SA
UK stocks are trading in the red territory on Thursday on pessimistic news from Japan and South Korea. Japan's retail sales dropped more than expected in July while South Korea's PPI missed forecasts last month. Moreover, speculation that the Fed president will not announce easing measures on Friday added pressure on UK equities. The FTSE 100 Index inched down by 0.18% to trade at 5,733.33. A half of the sectors within the index moved higher. The top-performers were consumer goods and health care sectors. J Sainsbury and Associated British Foods rose by 0.66% and 0.45% while Smith & Nephew climbed by 0.60%. At the same time, basic materials weighted down on the UK stock index. Rio Tinto slumped 2.11% as commodity prices in China attained three-year low. WPP slid by 2.76% after the advertising firm lowered its sales-growth target. Lenders also dropped. Barclays lost 1.58% after appointing a new CEO Antony Jenkins.


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