U.K. Stocks Are Little Changed as Foxtons Jumps After IPO
Randgold Resources Ltd. (RRS), Fresnillo Plc (FRES) and Polymetal International Plc lost at least 2 percent. Tate & Lyle Plc (TATE) slid 3.3 percent after Credit Suisse Group AG downgraded the maker of Splenda sweetener. J Sainsbury Plc (SBRY) added 1.5 percent as Citigroup Inc. raised its recommendation on the retailer’s shares. Foxtons Group Plc jumped 21 percent on its first day of trading in London.
The FTSE 100 slipped 3.32 points, or less than 0.1 percent, to 6,622.07 at 9:35 a.m. in London, heading for a weekly gain of 0.6 percent. The benchmark gauge yesterday rose to the highest level since Aug. 2 after the Federal Reserve decided against reducing the size of its monthly bond purchases. The broader FTSE All-Share Index also declined less than 0.1 percent today, while Ireland’s ISEQ Index increased 0.2 percent.
Germany will hold parliamentary elections on Sunday. Support for the opposition Social Democrats rose 1 percentage point to 28 percent, 10 points behind Chancellor Angela Merkel’s Christian Democratic-led bloc, according to an INSA poll published yesterday. Both main parties fell short of a majority with their preferred coalition partners.
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