UK stocks slide on weak Eurozone's data

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Source: Dukascopy Bank SA
UK shares are trading lower on Wednesday amid high risk-aversion in the markets ahead of the key ECB meeting due on Thursday. Adding to the negative mood of the UK stocks, Eurozone's retail sales contacted by 0.2% in July. The FTSE 100 Index lost 0.26% to trade at 5,657.38. Six out of ten sectors within the index posted gains. The top-performers were health care and industrial sectors. Smith & Nephew advanced by 1.74% while IMI and Meggitt rose by 1.48% and 0.38%. At the same time, telecommunication and oil and gas companies sent the UK stocks lower. BT Group slumped 2.81% on news that US Department of Justice accused the company of gross negligence regarding the Deepwater Horizon disaster. Vodafone lost 0.90% after Bernstein lowered its stock rating from ‘outperform' to ‘market perform'. On the downside was also Imperial Tobacco, losing 1.71% amid speculation that France may increase cigarette prices.

 

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Wed, 05 Sep 2012 18:01:29 GMT

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