U.K. Stocks Fall After Five-Day Gain as LSE, Foxtons SlipSofia Horta e Costa
U.K. stocks retreated for the first time this week, as stake sales dragged on shares of London Stock Exchange Group Plc and Foxtons Group Plc.
LSE dropped 2.2 percent as Borse Dubai Ltd. sold a 3.1 percent stake in the stock-exchange operator. Foxtons fell to its lowest price since its initial public offering last year as a shareholder sold a stake in the real estate broker.
The FTSE 100 Index slipped 22.87 points, or 0.3 percent, to 6,855.1 at the close in London. The gauge is still hovering near its highest level in 14 years and posted a fourth weekly gain, the longest streak since November.
The broader FTSE All-Share Index slipped 0.3 percent today, while Ireland’s ISEQ Index fell less than 0.1 percent.
LSE dropped 2.2 percent to 2,040 pence. Borse Dubai’s sale of a 8.5 million shares in the London bourse closed yesterday and may be priced at 2,020 pence a share, according to two people familiar with the transaction.
Foxtons slipped 4.4 percent to 230 pence. As many as 20.5 million shares, or 7.3 percent of Foxtons, were offered in an accelerated bookbuild by an unidentified shareholder or holders. The sale was said to have been priced at 232 pence.