U.K. Stocks Decline as FTSE 100 Pares 12th Monthly Rally
Antofagasta Plc (ANTO) followed a gauge of London-listed mining shares lower. Kazakhmys Plc and Evraz Plc declined at least 3.5 percent after Stoxx Ltd. said the shares will be removed from its Stoxx Europe 600 Index next month. RusPetro Plc (RPO) jumped 16 percent after saying it got a loan extension and interest-payment waivers from Sberbank of Russia.
The FTSE 100 Index slipped 78.97 points, or 1.2 percent, to 6,683.04 at 8:51 a.m. in London, paring its gains this month to 4 percent. The equity benchmark yesterday surged the most in five weeks as U.S. consumer confidence and house prices increased. The measure has advanced 13 percent so far this year. The broader FTSE All-Share Index lost 1.1 percent today, while Ireland’s ISEQ Index dropped 0.8 percent.
China will expand at a rate of 7.75 percent this year and next, David Lipton, first deputy managing director of the IMF, said after concluding an annual review of the world’s second-largest economy. In April, the IMF had forecast growth of 8 percent this year and 8.2 percent in 2014.
The volume of shares in FTSE 100-listed companies was 17 percent lower than the average of the last 30 days, according to data compiled by Bloomberg.
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