Miners Drag U.K. Stocks Lower After Weekly Gain; HSBC Advances

Updated on

Miners dragged U.K. stocks lower, after the FTSE 100 Index posted a weekly advance.

BHP Billiton Ltd., Antofagasta Plc and Anglo American Plc fell more than 2 percent as data showed Chinese imports slumped, underscoring an economic slowdown in the world’s biggest consumer of raw materials. Barratt Developments Plc slipped 1 percent after Bank of America Corp. cut its rating on the homebuilder to the equivalent of a sell. Pearson Plc retreated 1.9 percent after Jefferies Group recommended investors sell shares of the publisher of the Financial Times, citing risks in the digital business.

HSBC Holdings Plc climbed 1 percent after Morgan Stanley raised its recommendation on the bank, saying its valuation is more attractive now after the stock underperformed its European peers.

The FTSE 100 declined 0.4 percent to 7,064.3 at the close of trading in London, after the benchmark gauge rallied 3.8 percent last week to extend a record. The FTSE All-Share Index dropped 0.3 percent today, while Ireland’s ISEQ Index slid 0.4 percent.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE