UK stocks slide after French downgrade

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/AP
UK equities retreated on Tuesday as Greek bailout talks weighted on the market sentiment. Sending the UK stock index lower, Moody's cut French debt rating from Aaa to Aa1 and put the country on the negative outlook. At the same time, easing concerns over the US fiscal cliff and positive US data capped gains in the UK blue chips. The FTSE 100 Index eased down 0.05% to trade at 5,734.89. Only three in ten sectors included in the index moved higher. Telecommunications and industrials were the best performers. Vodafone Group added 1.15%, while BAE Systems and Bunzl rose 0.79% and 0.77%. Meanwhile, Glencore and Xstrata jumped 2.07% and 2.74% after Glencore shareholders approved all-share merger with Xstrata. Technology and financial sectors dragged the UK equity index down. Barclays, Royal Bank of Scotland Group and Lloyds Banking Group dropped 2.22%, 1.6% and 1.26%, respectively.


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