U.K. Stocks Retreat From Record as Diageo, Meggitt Shares Slide

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A drop for Diageo Plc dragged U.K. stocks down from an all-time high.

Diageo lost 3.6 percent after lower demand across Europe, Asia and Latin America contributed to an unexpected decline in quarterly revenue. Meggitt Plc dropped 3.1 percent as UBS Group AG recommended selling the shares. Unilever rose 2.6 percent and SABMiller Plc added 1.4 percent after reporting better-than-projected quarterly sales growth.

The FTSE 100 lost 0.5 percent to 7,060.45 at the close in London, after yesterday reaching a record 7,096.78. The broader FTSE All-Share Index also slipped 0.6 percent, while Ireland’s ISEQ Index added 0.1 percent.

Reckitt Benckiser Group Plc and BAE Systems Plc are among seven FTSE 100 companies trading ex-dividend today, trimming about 4.88 points off the index.

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