U.K. Stocks Decline for a Second Day; G4S Falls
U.K. stocks declined for a second day, after earlier gains.
G4S Plc declined the most in two months after losing a U.K. prison contract. Balfour Beatty Plc sank the most in 14 years as the U.K.’s largest construction company said the outlook for profit margins has faded because of a lack of building work in Britain. BTG Plc jumped 8 percent after the drugmaker reported an increase in first-half earnings and revenue. Burberry Group Plc climbed 1.3 percent.
The FTSE 100 Index fell 17.65 points, or 0.3 percent, to 5,773.98 at 3:51 p.m. in London, after earlier climbing as much as 0.6 percent. The gauge fell 1.6 percent yesterday as the European Commission cut its euro-area growth forecast and concern over an impending U.S. fiscal crisis overshadowed the re-election of President Barack Obama. The FTSE All-Share Index dropped 0.3 percent today, while Ireland’s ISEQ fell 0.9 percent.
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