U.K. Stocks Erase Gains, Are Little Changed While M&S Advances

Stoxx Europe 600 Index Declines 1 Percent

Britain’s shares traded little changed, reversing gains following moves in the broader region.

The FTSE 100 Index slipped less than 0.1 percent at 12:02 p.m. in London, erasing an advance of as much as 0.7 percent. Eight stocks trading without the right to their dividends are shaving about 9.5 points off the gauge. The broader FTSE All-Share Index and Ireland’s ISEQ Index were also little changed.

Marks & Spencer Group Plc added 3.2 percent after reporting that clothing sales fell less than analysts expected, while Randgold Resources Ltd. climbed with the price of the precious metal. Berkeley Group Holdings Plc fell 3.6 percent after a Bloomberg report that developers in central London are offering institutional investors discounts of as much as 20 percent on bulk purchases of luxury apartments. Worldpay Group Plc lost 2.3 percent after a share placing.

With a slide of just 1.3 percent this year, U.K. stocks are the best performers among the major western-European markets.

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