UK equities dropped on banks' weakness

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Source: Dukascopy Bank SA
UK shares prolonged slump on Wednesday amid lack of actions from the ECB regarding anti-crisis measures. On Tuesday, Mario Draghi canceled the trip to Jackson Hole, weighting down of speculation that the ECB plans will be announced at the symposium. The FTSE 100 Index sank 0.45% to trade at 5,748.72. Only two sectors within the index climbed. The top-performers were utility companies, with Centrica and SSE jumping 1.40% and 1.13%. At the same time, mining and financial shares pressurized the UK stock index. Anglo American, BHP Billiton and Rio Tinto slid 1.88%, 1.11% and 2.60%, respectively. Barclays led losses of the UK lenders, falling by 1.64% amid news that UK fraud prosecutors will start a criminal probe regarding the bank's payments made to Qatar sovereign wealth fund. Other banks followed Barclay's suit. Royal Bank of Scotland, Lloyds Banking Group and Standard Chartered dropped by 1.56%, 1.59% and 0.74%, respectively.

 

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Wed, 29 Aug 2012 13:24:09 GMT

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