UK shares drop after weak services PMI reading

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Source: Dukascopy Bank SA
© Scanpix/AFP
UK equities are trading lower on Monday as investors remain cautious ahead of the US presidential elections due on Tuesday. Weaker-than-expected UK services PMI reading also added to losses of the equities. Moreover, worrying signals from Spanish labour market pushed UK shares lower. The FTSE 100 Index shed 0.46% to trade at 5,841.43. Only three sectors in ten within the index climbed.  Health care sector was the top-performer, with GlaxoSmithKline rallying 1.87%. Dragging the UK stock index lower, lenders and basic materials plummeted 0.99% and 1.02%. Anglo American, Eurasian Natural Resources and Vedanta Resources sank 0.41%, 2.82% and 3.71%, respectively. Meanwhile, shares of Lloyds Banking Group, Royal Bank of Scotland Group and Standard Chartered dropped 0.99%, 0.89% and 0.60%, respectively.


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