U.K.'s FTSE 100 Stock Index Falls 10% From Record, Entering Correction

Updated on
European Stocks Down on China Concerns

Falling health stocks sent U.K. stocks down for an eighth day amid global growth concerns that have been rattling markets.

The FTSE 100 Index has now dropped more than 10 percent from its high in April -- typically known as a correction.

The benchmark fell 0.6 percent to close at 6,367.89 in London, putting its eight-day drop at 5.5 percent.

AstraZeneca Plc and Smith & Nephew Plc fell for a second day, while Hikma Pharmaceuticals Plc reversed yesterday’s gain to lose 1.8 percent.

Miners including Anglo American Plc and Rio Tinto Group rebounded after tumbling yesterday. Glencore added 2.5 percent from a record low reached after the company yesterday reported a plunge in first-half profit. Kaz Minerals Plc soared 14 percent after saying it will benefit from a record plunge in the Kazakh tenge.

The broader FTSE All-Share Index lost 0.6 percent, and Ireland’s ISEQ Index slid 2.2 percent.

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