UK shares swing between gains and losses

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© scanpix/AFP
Most European stocks dropped triggering a decrease in the Stoxx Europe 600 Index from its 18-month high, after Italy's Prime Minister Mario Monti pledged he would resign as soon as the budget for 2013 is approved, causing concerns that this might damage efforts to reduce the nation's debt. Meanwhile, Berlusconi said to seek for premiership in the next year's election and concerns have appeared over Berlusconi's campaign against the ‘German austerity' as it might unsettle markets.

The UK shares were fluctuating between gains and losses and stayed little changed with FTSE index increasing 0.04% to 5,916.59 by 15:43 GMT. Only three sectors within the index climbed with Health Care adding the most by 0.43%, followed by Oil and gas and Consumer goods sectors that rallied 0.2% and 0.09%, respectively. The sector suffering the most was Industrials by tumbling 1.03%, Financials losing 0.58% and Technology declining 0.48%. The company that performed the best was Wolseley by jumping 4.19%, after RBC capital reissued their outperform rating on the company's shares. The special trade distributor of plumbing and heating products got higher price target on the stock. Furthermore, Associated British Foods and Tullow Oil gained 1.62% and 1.37%, respectively.


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Mon, 10 Dec 2012 18:16:01 GMT

German shares slid on Monti's resignation announcement

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