U.K. Stock Decline After Brexit Vote Tempered by Exporter Gains
- Shares of ARM, AstraZeneca climb, as do gold producers
- FTSE 250 of more domestic companies getting hit the most
Brexit Pushes Stoxx 600 to Largest Decline Since 2008
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A slide in U.K. equities after Britons voted to leave the European Union was tempered by exporters, which gained amid a plunge in the pound.
The FTSE 100 Index fell 3.2 percent at the close, the most since January. The benchmark trimmed a slump of as much as 8.7 percent as chip designer ARM Holdings Plc and drugmakers AstraZeneca Plc and GlaxoSmithKline Plc, which get most of their revenue outside the U.K., gained at least 3.4 percent. The pound plunged to a 30-year low against the dollar. The FTSE 250 Index of smaller, more domestic companies sank 7.2 percent, its biggest plunge since 1987.