U.K. Stocks Decline for First Time in Three Days

U.K. stocks declined, snapping a two-day increase, as investors watched financial results from CRH Plc (CRH) to TalkTalk Telecom Group Plc. (TALK)

GlaxoSmithKline Plc (GSK) posted the biggest drag on the FTSE 100 after a coronary heart disease treatment failed in a late-stage trial. Countrywide Plc (CWD) slipped 1.9 percent as its second-largest shareholder sold its 10.2 percent stake. CRH jumped to its highest price in more than three years after the Irish construction company said it may sell further assets. TalkTalk Telecom rallied the most since June after raising its sales growth forecast for the full-year.

The FTSE 100 Index (UKX) retreated 28.18 points, or 0.4 percent, to 6,700.19 at 9:14 a.m. in London. The gauge fell 0.4 percent last week as European Central Bank President Mario Draghi announced an interest-rate cut, signaling a worsening regional economy. The broader FTSE All-Share Index also lost 0.4 percent today, while Ireland’s ISEQ Index rose 0.8 percent to its highest level in more than five years.

A U.K. house-price index rose last month to the highest in more than a decade, a report from the Royal Institution of Chartered Surveyors showed. The gauge increased to 57, the highest since June 2002, from a revised 53 in September, the London-based group said in a report today, citing a poll of property surveyors.

To contact the reporter on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.