UK shares slide ahead of Mario Draghi speech

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Source: Dukascopy Bank SA
UK stocks are trading in the red area on Monday ahead of the ECB President Mario Draghi speech due later in the day. Fears over deepening recession in the Eurozone continued to weigh on UK equities. The FTSE 100 Index slumped 0.19% to trade at 6,316.43. Only two in ten industries climbed. Utilities and consumer goods were the only gainers, advancing 0.68% and 0.07%. National Grid and Severn Trent jumped 1.39% and 0.88%. Among consumer goods, J Sainsbury and British American Tobacco rose 0.48% and 0.01%. Another notable gainer in consumer goods industry was Reckitt Benckiser Group. Reckitt Benckiser Group jumped 0.20% after the firm announced it plans to buy back six million ordinary shares. On the downside was Vodafone Group, retreating 0.45% after stating it will create a five-year partnership with BAE Systems. Technology stocks also are trading in red, with Sage Group slumping 0.86%.
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