U.K. Stocks Decline for Third Day as Shire Drops Most in Month

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U.K. stocks declined, after posting their biggest weekly drop of the year, as Shire Plc retreated the most in a month.

Shire Plc slid 2.8 percent following a Sunday Times report that the drug company recently made an informal takeover approach to Actelion Ltd. that was rebuffed. Diageo Plc jumped 6.8 percent on a report that Brazilian billionaire Jorge Paulo Lemann is considering a takeover bid for the liquor giant that owns Guinness.

The FTSE 100 Index slipped 0.2 percent, or 14.56 points, to 6,790.04 at the close of trading in London. The broader FTSE All-Share Index lost 0.2 percent, and Ireland’s ISEQ Index also dropped 0.2 percent.

The U.K.’s benchmark equity gauge slid 2.6 percent last week, its second consecutive weekly decline, amid investor concern that Greece will default on its debt as talks to resolve the crisis dragged on without resolution.

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