Economics
U.K. Stocks Retreat From 2008 High on U.S. GDP; Imperial Drops
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U.K. stocks fell from a 4 1/2-year high as a report showed the U.S. economy, its largest trading partner, unexpectedly contracted in the fourth quarter.
Imperial Tobacco Group Plc, Europe’s second-biggest tobacco company, slid 4.3 percent after saying first-half profit will decline. Petrofac Ltd. slumped 7 percent as Italian peer Saipem SpA cut its profit forecasts. Antofagasta Plc fell the most in 16 months after projecting increased costs. WPP Plc climbed to a 12-year high as Jefferies Group Inc. advised investors to buy the shares.