U.K. Stocks Decline as Libor Inquiry Widens
U.K. stocks declined, led by bank shares, as investigations into allegations of interest-rate manipulation intensified on both sides of the Atlantic.
The FTSE 100 Index dropped 0.2 percent to 5,652.33 at 9:59 a.m. in London. The FTSE All-Share Index also lost 0.2 percent, while Ireland’s ISEQ Index gained 0.2 percent.
Libor investigations on both sides of the Atlantic intensified as Barclays Plc (BARC) traders could face possible U.S. charges by September and British lawmakers may use hearings this week to expand their inquiry to other banks tied to the global financial scandal.
Barclays retreated 3.3 percent to 156.85 pence.
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