U.K. Stocks Fall as Tullow Leads Oil Stocks LowerNamitha Jagadeesh
U.K. stocks fell, paring an earlier advance, as a drop in oil and gas stocks outweighed a gain in Imperial Tobacco Group Plc.
Tullow Oil Plc and Royal Dutch Shell Plc fell more than 2.5 percent and are among the worst performers on the benchmark FTSE 100 Index. Imperial Tobacco rose 4.1 percent after saying it’s committed to annual dividend growth of at least 10 percent. Legal & General Group Plc rose 2 percent after saying corporate bulk annuities this year rose to a record.
The FTSE 100 fell 34 points, or 0.5 percent, to 6,453.97 at the close in London, paring an earlier rise of as much as 0.3 percent. The benchmark gauge rallied 2.5 percent last week for its second weekly gain, boosted by corporate results and increased stimulus from the Bank of Japan. The broader FTSE All-Share Index declined 0.5 percent today, while Ireland’s ISEQ Index retreated 0.3 percent.